Diversify Wealth Management LLC Takes Position in The Charles Schwab Co. (NYSE:SCHW)

Diversify Wealth Management LLC acquired a new position in The Charles Schwab Co. (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,451 shares of the financial services provider’s stock, valued at approximately $1,949,000.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted 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 during the period. Norges Bank purchased a new stake in shares of Charles Schwab in the 4th quarter worth $950,192,000. Morningstar Investment Services LLC lifted its holdings in shares of Charles Schwab by 98.0% in 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 buying an additional 2,322,156 shares during the period. Franklin Resources Inc. lifted its position in shares of Charles Schwab by 19.7% in the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock worth $651,722,000 after purchasing an additional 1,558,975 shares during the period. Finally, Mondrian Investment Partners LTD lifted its position in shares of Charles Schwab by 28,736.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after purchasing an additional 1,480,485 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. StockNews.com cut Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. TD Cowen reaffirmed a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Wells Fargo & Company started coverage on shares of Charles Schwab in a report on Thursday. They issued an “equal weight” rating and a $70.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $73.75.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the sale, the director now directly owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the sale, the director now owns 570,657 shares in the company, valued at $41,366,925.93. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,533,064 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 0.6 %

Shares of NYSE:SCHW opened at $62.12 on Friday. The company has a market capitalization of $110.48 billion, a PE ratio of 25.99, a PEG ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The business has a 50 day moving average of $65.33 and a two-hundred day moving average of $70.04. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

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

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given 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 was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) 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.