Pinkerton Retirement Specialists LLC Buys 2,350 Shares of Charles Schwab Co. (NYSE:SCHW)

Pinkerton Retirement Specialists LLC grew its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 7.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,982 shares of the financial services provider’s stock after acquiring an additional 2,350 shares during the period. Pinkerton Retirement Specialists LLC’s holdings in Charles Schwab were worth $1,366,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Comerica Securities Inc. boosted its stake in shares of Charles Schwab by 5.4% during the 4th quarter. Comerica Securities Inc. now owns 40,063 shares of the financial services provider’s stock worth $1,664,000 after acquiring an additional 2,065 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Charles Schwab by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,723,959 shares of the financial services provider’s stock worth $113,124,000 after purchasing an additional 76,982 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Charles Schwab by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock worth $564,801,000 after purchasing an additional 758,069 shares during the last quarter. Wedbush Securities Inc. acquired a new position in shares of Charles Schwab during the 1st quarter worth about $256,000. Finally, BB&T Corp lifted its position in shares of Charles Schwab by 1.7% during the 1st quarter. BB&T Corp now owns 56,590 shares of the financial services provider’s stock worth $2,420,000 after purchasing an additional 943 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Mark A. Goldfarb bought 2,595 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $38.68 per share, with a total value of $100,374.60. Following the acquisition, the director now owns 3,771 shares in the company, valued at approximately $145,862.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen T. Mclin sold 5,093 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total value of $191,293.08. Following the completion of the transaction, the director now directly owns 7,297 shares of the company’s stock, valued at $274,075.32. The disclosure for this sale can be found here. Corporate insiders own 10.90% of the company’s stock.

Charles Schwab stock traded down $0.73 during trading hours on Friday, hitting $37.14. The stock had a trading volume of 2,843,296 shares, compared to its average volume of 10,949,430. The company has a 50-day moving average of $40.21 and a two-hundred day moving average of $43.10. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. The company has a market cap of $48.78 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. Charles Schwab Co. has a fifty-two week low of $36.01 and a fifty-two week high of $52.70.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a $0.17 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.83%. Charles Schwab’s dividend payout ratio (DPR) is 27.76%.

Several research firms recently weighed in on SCHW. Wells Fargo & Co raised Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, July 22nd. Citigroup cut their price objective on Charles Schwab from $43.50 to $39.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. set a $44.00 price objective on Charles Schwab and gave the stock a “buy” rating in a research report on Friday, June 21st. Morgan Stanley cut their price objective on Charles Schwab from $53.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, Compass Point set a $45.00 price objective on Charles Schwab and gave the stock a “hold” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $47.33.

About Charles Schwab

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.

Further Reading: Fundamental Analysis and Individual Investors

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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