CX Institutional Acquires 79,621 Shares of The Charles Schwab Corporation $SCHW

CX Institutional lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 153.1% during the second quarter, HoldingsChannel reports. The firm owned 131,640 shares of the financial services provider’s stock after acquiring an additional 79,621 shares during the quarter. CX Institutional’s holdings in Charles Schwab were worth $12,146,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SCHW. Marathon Mission Inc. increased its stake in Charles Schwab by 3.4% during the 2nd quarter. Marathon Mission Inc. now owns 6,802 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 225 shares in the last quarter. Trust Co of the South raised its holdings in Charles Schwab by 26.5% during the 2nd quarter. Trust Co of the South now owns 2,922 shares of the financial services provider’s stock worth $270,000 after buying an additional 612 shares during the period. VectorGlobal IAG Inc. bought a new position in Charles Schwab in the first quarter valued at approximately $8,551,000. Redwood Investment Management LLC bought a new position in Charles Schwab in the first quarter valued at approximately $1,051,000. Finally, Ballast Advisors LLC acquired a new position in shares of Charles Schwab in the first quarter valued at approximately $56,000. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Jefferies Financial Group reduced their target price on shares of Charles Schwab from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Finally, Argus lifted their price target on Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $105.76 on Tuesday. The company’s fifty day simple moving average is $95.64 and its 200-day simple moving average is $95.48. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The firm has a market cap of $183.94 billion, a PE ratio of 19.23, a P/E/G ratio of 0.80 and a beta of 0.76. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $107.50.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Charles Schwab’s dividend payout ratio is currently 23.27%.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 32,947 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $104.01, for a total value of $3,426,817.47. Following the completion of the transaction, the insider directly owned 57,972 shares in the company, valued at $6,029,667.72. This trade represents a 36.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dennis Howard sold 28,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $105.01, for a total value of $2,940,280.00. Following the transaction, the insider directly owned 10,470 shares in the company, valued at $1,099,454.70. This trade represents a 72.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 363,848 shares of company stock worth $37,874,706 over the last three months. Company insiders own 6.30% of the company’s stock.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.