WealthPLAN Partners LLC Grows Position in The Charles Schwab Co. (NYSE:SCHW)

WealthPLAN Partners LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,401 shares of the financial services provider’s stock after buying an additional 953 shares during the quarter. WealthPLAN Partners LLC’s holdings in Charles Schwab were worth $619,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after acquiring an additional 2,946,327 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Charles Schwab by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after acquiring an additional 292,155 shares during the period. Putnam Investments LLC grew its position in shares of Charles Schwab by 4.8% during the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after purchasing an additional 560,110 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Charles Schwab by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock valued at $802,800,000 after purchasing an additional 1,373,223 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $63.84 on Wednesday. The business’s 50 day moving average price is $64.93 and its 200-day moving average price is $70.03. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company has a market cap of $113.46 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

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

Charles Schwab Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SCHW. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a report on Thursday, August 22nd. UBS Group cut their target price 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. Bank of America decreased their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group increased their price objective on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.75.

Insiders Place Their Bets

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

Charles Schwab Company 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.