The Charles Schwab Corporation $SCHW Shares Sold by Cooper Financial Group

Cooper Financial Group decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 41.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,739 shares of the financial services provider’s stock after selling 7,458 shares during the period. Cooper Financial Group’s holdings in Charles Schwab were worth $991,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Charles Schwab by 1.0% in the third quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock valued at $6,984,231,000 after buying an additional 691,671 shares during the period. Geode Capital Management LLC boosted its stake in Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after buying an additional 98,242 shares in the last quarter. Franklin Resources Inc. grew its holdings in Charles Schwab by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock worth $3,015,720,000 after acquiring an additional 78,020 shares during the period. Primecap Management Co. CA raised its position in Charles Schwab by 9.7% in the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after acquiring an additional 2,066,884 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Charles Schwab by 0.8% in the fourth quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider’s stock worth $2,179,888,000 after acquiring an additional 171,926 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total value of $208,420.00. Following the completion of the sale, the insider owned 11,738 shares in the company, valued at $1,223,216.98. This represents a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 192,488 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $103.90, for a total value of $19,999,503.20. Following the completion of the sale, the chairman directly owned 529,346 shares of the company’s stock, valued at approximately $54,999,049.40. This trade represents a 26.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 363,848 shares of company stock worth $37,874,706. 6.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SCHW has been the subject of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a research report on Thursday, June 18th. Compass Point started coverage on shares of Charles Schwab in a report on Monday, August 3rd. They issued a “buy” rating and a $135.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Barclays raised their target price on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 price target on shares of Charles Schwab in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.17.

Charles Schwab Price Performance

SCHW stock opened at $107.55 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $109.05. The firm has a market capitalization of $187.04 billion, a PE ratio of 19.55, a P/E/G ratio of 0.82 and a beta of 0.76. The firm has a 50-day moving average of $97.28 and a two-hundred day moving average of $95.66.

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, topping the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. On average, analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Charles Schwab Company 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.