2,284 Shares in The Charles Schwab Corporation $SCHW Acquired by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,284 shares of the financial services provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Charles Schwab by 10.8% during the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after purchasing an additional 1,700,384 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Charles Schwab by 16.0% during the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock valued at $1,339,822,000 after buying an additional 2,355,309 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Charles Schwab by 5.0% in the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock worth $1,220,107,000 after buying an additional 743,906 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research analyst reports. Raymond James Financial reissued an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. JMP Securities lifted their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and raised their target price for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Finally, Barclays upped their price objective on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.52.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the sale, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 in the last three months. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Up 1.5%

NYSE:SCHW opened at $94.13 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $170.87 billion, a P/E ratio of 25.30, a P/E/G ratio of 0.91 and a beta of 0.97. The company’s 50-day simple moving average is $95.37 and its 200-day simple moving average is $88.64. The Charles Schwab Corporation has a fifty-two week low of $64.07 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the firm earned $0.73 earnings per share. Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is currently 29.03%.

Charles Schwab announced that its board has approved a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.