Cetera Advisors LLC Has $226,000 Stock Position in Charles Schwab Co. (NYSE:SCHW)

Cetera Advisors LLC cut its stake in Charles Schwab Co. (NYSE:SCHW) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,642 shares of the financial services provider’s stock after selling 358 shares during the period. Cetera Advisors LLC’s holdings in Charles Schwab were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Edgewood Management LLC raised its holdings in Charles Schwab by 1.2% in the 2nd quarter. Edgewood Management LLC now owns 22,116,063 shares of the financial services provider’s stock valued at $888,845,000 after acquiring an additional 256,759 shares during the period. Northern Trust Corp boosted its position in Charles Schwab by 0.3% in the first quarter. Northern Trust Corp now owns 16,708,657 shares of the financial services provider’s stock valued at $714,463,000 after buying an additional 52,865 shares in the last quarter. Clearbridge Investments LLC boosted its position in Charles Schwab by 24.0% in the first quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after buying an additional 2,880,846 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Charles Schwab by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock valued at $564,801,000 after acquiring an additional 758,069 shares during the last quarter. Finally, Investec Asset Management LTD raised its stake in Charles Schwab by 31.6% during the second quarter. Investec Asset Management LTD now owns 6,885,579 shares of the financial services provider’s stock worth $276,731,000 after buying an additional 1,652,518 shares during the last quarter. 79.93% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Stephen T. Mclin sold 5,093 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total transaction of $191,293.08. Following the completion of the sale, the director now directly owns 7,297 shares of the company’s stock, valued at approximately $274,075.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $40.20, for a total value of $150,348.00. The disclosure for this sale can be found here. Insiders sold a total of 219,677 shares of company stock valued at $8,997,842 over the last ninety days. Corporate insiders own 10.90% of the company’s stock.

A number of equities analysts have recently commented on the stock. Deutsche Bank decreased their price target on shares of Charles Schwab from $37.00 to $36.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Citigroup decreased their price target on shares of Charles Schwab from $43.50 to $39.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $43.50 in a research note on Friday, July 12th. Argus restated a “buy” rating and set a $52.00 price objective (down from $57.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Bank of America downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and dropped their price target for the company from $49.00 to $43.00 in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.25.

Charles Schwab stock opened at $42.76 on Thursday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. Charles Schwab Co. has a 12 month low of $35.85 and a 12 month high of $52.70. The stock’s 50 day simple moving average is $39.16 and its two-hundred day simple moving average is $42.36. The firm has a market cap of $53.73 billion, a PE ratio of 17.45, a P/E/G ratio of 2.71 and a beta of 1.29.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the company earned $0.60 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Charles Schwab Co. will post 2.67 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 27.76%.

Charles Schwab 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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