Commonwealth Retirement Investments LLC Takes $1.86 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Commonwealth Retirement Investments LLC acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,233 shares of the financial services provider’s stock, valued at approximately $1,859,000.

Other institutional investors have also added to or reduced their stakes in the company. Sivia Capital Partners LLC raised its stake in shares of Charles Schwab by 11.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,887 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 398 shares during the period. Savant Capital LLC grew its holdings in shares of Charles Schwab by 36.3% during the second quarter. Savant Capital LLC now owns 16,133 shares of the financial services provider’s stock worth $1,189,000 after buying an additional 4,297 shares in the last quarter. Candriam S.C.A. raised its position in Charles Schwab by 9.0% in the 2nd quarter. Candriam S.C.A. now owns 98,226 shares of the financial services provider’s stock valued at $7,238,000 after buying an additional 8,118 shares during the last quarter. Private Advisor Group LLC lifted its stake in Charles Schwab by 11.2% in the 2nd quarter. Private Advisor Group LLC now owns 104,276 shares of the financial services provider’s stock valued at $7,684,000 after acquiring an additional 10,534 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its position in Charles Schwab by 0.8% during the 2nd quarter. New York Life Investment Management LLC now owns 204,902 shares of the financial services provider’s stock worth $15,099,000 after acquiring an additional 1,707 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Morgan Stanley cut their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Bank of America decreased their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, TD Cowen reaffirmed a “hold” rating and set a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.00.

Charles Schwab Trading Down 1.2 %

SCHW stock opened at $62.90 on Friday. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The stock has a market cap of $111.86 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97. The company has a fifty day moving average price of $66.44 and a two-hundred day moving average price of $70.06. 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 earnings results 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. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. Equities analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now directly owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,800 shares of company stock worth $7,145,364. Company 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.