CRA Financial Services LLC Grows Stake in The Charles Schwab Co. (NYSE:SCHW)

CRA Financial Services LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,455 shares of the financial services provider’s stock after acquiring an additional 190 shares during the quarter. CRA Financial Services LLC’s holdings in Charles Schwab were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Country Trust Bank purchased a new position in shares of Charles Schwab during the second quarter valued at about $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC grew its holdings in shares of 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 acquiring an additional 192 shares during the period. CGC Financial Services LLC bought a new position in shares of Charles Schwab in the 2nd quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. JMP Securities decreased their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Bank of America dropped their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, Barclays dropped their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Three investment 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.25.

Insider Activity

In other news, CEO Walter W. Bettinger bought 25,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Paul V. Woolway sold 1,150 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 98,856 shares of company stock valued at $6,398,604. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

NYSE SCHW opened at $67.68 on Friday. The stock has a market capitalization of $120.29 billion, a PE ratio of 28.32, a P/E/G ratio of 1.43 and a beta of 0.97. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The business has a 50 day simple moving average of $64.12 and a two-hundred day simple moving average of $69.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts predict that The Charles Schwab Co. will post 3.07 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 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.