The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.9% in the second quarter, Holdings Channel reports. The fund owned 7,634 shares of the financial services provider’s stock after purchasing an additional 218 shares during the period. Mayflower Financial Advisors LLC’s holdings in Charles Schwab were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SCHW. Country Trust Bank acquired a new position in shares of Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at approximately $27,000. Fortitude Family Office LLC increased its position in Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares during the period. CGC Financial Services LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the transaction, the chief executive officer now directly owns 827,377 shares in the company, valued at approximately $54,822,000.02. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Charles Schwab news, CEO Walter W. Bettinger acquired 25,000 shares of the stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the transaction, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bernard J. Clark sold 8,164 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $612,300.00. Following the transaction, the insider now owns 121,666 shares in the company, valued at $9,124,950. The disclosure for this sale can be found here. Insiders have sold 107,800 shares of company stock valued at $7,145,364 in the last ninety days. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a report on Thursday, August 22nd. UBS Group reduced their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $74.00.

Charles Schwab Trading Down 0.3 %

Shares of Charles Schwab stock opened at $63.69 on Friday. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The business has a 50 day moving average price of $66.66 and a 200 day moving average price of $70.07. The company has a market capitalization of $113.27 billion, a P/E ratio of 26.65, a P/E/G ratio of 1.22 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. Sell-side analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.57%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Charles Schwab 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.