LS Investment Advisors LLC Buys 726 Shares of The Charles Schwab Co. (NYSE:SCHW)

LS Investment Advisors LLC raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.9% in the second quarter, HoldingsChannel reports. The fund owned 37,961 shares of the financial services provider’s stock after acquiring an additional 726 shares during the period. LS Investment Advisors LLC’s holdings in Charles Schwab were worth $2,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 33.4% during 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 purchasing an additional 17,369,091 shares in the last quarter. Norges Bank acquired a new stake in Charles Schwab during the fourth quarter worth approximately $950,192,000. Boston Partners increased its stake 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 period. Morningstar Investment Services LLC increased its stake 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 period. Finally, Franklin Resources Inc. lifted its position in shares of 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 valued at $651,722,000 after acquiring an additional 1,558,975 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SCHW. Morgan Stanley dropped their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $64.00 in a report on Monday, July 29th. Bank of America decreased their price objective 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. TD Cowen restated a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.00.

Charles Schwab Trading Down 0.9 %

Shares of NYSE:SCHW traded down $0.57 during midday trading on Tuesday, hitting $63.91. 7,003,081 shares of the stock were exchanged, compared to its average volume of 8,078,540. The business’s 50-day moving average price is $68.09 and its 200 day moving average price is $70.12. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $113.59 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 1.24 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. Analysts predict that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the transaction, the director now owns 562,129 shares in the company, valued at approximately $36,594,597.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The stock was purchased 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 of the company’s stock, valued at approximately $54,822,000.02. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,800 shares of company stock worth $7,145,364. Corporate insiders own 6.60% of the company’s stock.

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.