Plancorp LLC Has $229,000 Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Plancorp LLC raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 6.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,108 shares of the financial services provider’s stock after buying 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 (SEC).

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

Insider Transactions at Charles Schwab

In other Charles Schwab news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the transaction, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Walter W. Bettinger purchased 25,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were purchased 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 approximately $54,822,000.02. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 99,636 shares of company stock worth $6,533,064. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Thursday, August 22nd. Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Jefferies Financial Group increased their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.75.

Charles Schwab Trading Up 0.2 %

Shares of Charles Schwab stock opened at $63.84 on Wednesday. The firm’s 50 day moving average is $64.93 and its 200 day moving average is $70.03. The firm has a market capitalization of $113.46 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.16 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 company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

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

Charles Schwab Dividend Announcement

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

Charles Schwab Company 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.