The Charles Schwab Co. (NYSE:SCHW) Stock Holdings Lifted by Marcum Wealth LLC

Marcum Wealth LLC boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,595 shares of the financial services provider’s stock after purchasing an additional 423 shares during the quarter. Marcum Wealth LLC’s holdings in Charles Schwab were worth $707,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after buying an additional 17,369,091 shares in the last quarter. Norges Bank bought a new stake in Charles Schwab during the 4th quarter worth approximately $950,192,000. Boston Partners grew its position in Charles Schwab by 424.7% during the 4th quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock worth $305,400,000 after acquiring an additional 3,602,830 shares during the last quarter. Morningstar Investment Services LLC grew its position in Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after acquiring an additional 2,322,156 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Charles Schwab by 19.7% during the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock worth $651,722,000 after acquiring an additional 1,558,975 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other Charles Schwab news, CEO Walter W. Bettinger purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the transaction, the insider now directly owns 121,666 shares in the company, valued at $8,630,986.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Walter W. Bettinger acquired 25,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were purchased 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 owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 273,586 shares of company stock worth $19,570,869. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SCHW. StockNews.com lowered Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. UBS Group decreased their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley decreased their price objective on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on Charles Schwab from $84.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods raised Charles Schwab from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $76.00 to $84.00 in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.27.

Charles Schwab Stock Performance

Charles Schwab stock traded down $1.10 during midday trading on Monday, reaching $62.29. 7,864,901 shares of the company’s stock were exchanged, compared to its average volume of 8,039,061. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $110.71 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.19 and a beta of 0.99. The stock’s 50-day simple moving average is $70.99 and its 200 day simple moving average is $70.05.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.65% and a net margin of 26.30%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter last year, the company posted $0.75 earnings per share. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts expect that The Charles Schwab Co. will post 3.09 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

About Charles Schwab

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.