Charles Schwab Co. (NYSE:SCHW) Shares Bought by Morningstar Investment Services LLC

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Morningstar Investment Services LLC lifted its holdings in Charles Schwab Co. (NYSE:SCHW) by 28.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 792,196 shares of the financial services provider’s stock after purchasing an additional 176,088 shares during the period. Morningstar Investment Services LLC’s holdings in Charles Schwab were worth $25,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its position in shares of Charles Schwab by 5.7% during the 1st quarter. BlackRock Inc. now owns 91,681,742 shares of the financial services provider’s stock valued at $3,082,342,000 after buying an additional 4,903,256 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Charles Schwab by 227.0% during the first quarter. Wellington Management Group LLP now owns 34,307,522 shares of the financial services provider’s stock worth $1,153,419,000 after purchasing an additional 23,815,930 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Charles Schwab by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 30,345,188 shares of the financial services provider’s stock valued at $1,020,205,000 after buying an additional 5,568,071 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Charles Schwab by 18.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 16,995,456 shares of the financial services provider’s stock worth $571,386,000 after buying an additional 2,646,859 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Charles Schwab by 11.9% during the first quarter. Alliancebernstein L.P. now owns 16,439,037 shares of the financial services provider’s stock valued at $552,680,000 after acquiring an additional 1,750,629 shares during the last quarter. 85.13% of the stock is currently owned by institutional investors.

In other Charles Schwab news, Chairman Charles R. Schwab sold 65,056 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $33.19, for a total value of $2,159,208.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan M. Craig sold 10,935 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $40.02, for a total value of $437,618.70. The disclosure for this sale can be found here. Company insiders own 10.80% of the company’s stock.

Several brokerages have issued reports on SCHW. Morgan Stanley lowered their target price on shares of Charles Schwab from $51.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. Wells Fargo & Co upped their price target on Charles Schwab from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Compass Point cut Charles Schwab from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Wednesday, May 20th. Keefe, Bruyette & Woods lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a report on Sunday, April 19th. Finally, Argus cut their price target on shares of Charles Schwab from $54.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $42.50.

Shares of Charles Schwab stock traded down $0.43 during trading on Friday, hitting $33.15. 10,385,035 shares of the stock were exchanged, compared to its average volume of 8,441,462. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.42 and a quick ratio of 0.42. The firm’s 50-day moving average price is $34.61 and its 200 day moving average price is $37.89. The stock has a market cap of $43.23 billion, a price-to-earnings ratio of 13.38 and a beta of 1.25. Charles Schwab Co. has a 12-month low of $28.00 and a 12-month high of $51.65.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. Charles Schwab had a return on equity of 16.88% and a net margin of 31.48%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the business earned $0.66 EPS. Charles Schwab’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, research analysts forecast that Charles Schwab Co. will post 2.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 7th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, August 6th. Charles Schwab’s payout ratio is 26.47%.

Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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