Plancorp LLC Buys 184 Shares of The Charles Schwab Co. (NYSE:SCHW)

Plancorp LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,108 shares of the financial services provider’s stock after acquiring an additional 184 shares during the period. Plancorp LLC’s holdings in Charles Schwab were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sargent Investment Group LLC acquired a new stake in Charles Schwab in the second quarter worth about $260,000. WealthPLAN Partners LLC boosted its stake in shares of Charles Schwab by 12.8% in the 2nd quarter. WealthPLAN Partners LLC now owns 8,401 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 953 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in shares of Charles Schwab by 4.1% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 99,346 shares of the financial services provider’s stock worth $7,321,000 after buying an additional 3,889 shares during the period. One Capital Management LLC bought a new stake in shares of Charles Schwab during the second quarter worth approximately $667,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Charles Schwab by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,904,267 shares of the financial services provider’s stock valued at $361,402,000 after buying an additional 310,128 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company initiated coverage on shares of Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. Bank of America dropped 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. Barclays reduced 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. Jefferies Financial Group upped their price target on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.75.

Charles Schwab Stock Up 0.2 %

NYSE:SCHW opened at $63.84 on Wednesday. The company has a market cap of $113.46 billion, a PE ratio of 26.71, a PEG ratio of 1.16 and a beta of 0.97. The stock has a 50-day simple moving average of $64.93 and a 200 day simple moving average of $70.03. 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 Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. On average, sell-side analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.57%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Transactions at Charles Schwab

In related news, President Richard A. Wurster bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the acquisition, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Richard A. Wurster bought 10,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was purchased at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the acquisition, the president now owns 144,228 shares in the company, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,533,064 in the last three months. Insiders own 6.60% of the company’s stock.

Charles Schwab 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.