PFG Investments LLC Cuts Holdings in The Charles Schwab Co. (NYSE:SCHW)

PFG Investments LLC lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 65.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,310 shares of the financial services provider's stock after selling 14,115 shares during the quarter. PFG Investments LLC's holdings in Charles Schwab were worth $539,000 at the end of the most recent quarter.

• Charles Schwab’s Initiative Changes Are a Long-Term Positive

Other hedge funds also recently made changes to their positions in the company. Oak Thistle LLC bought a new stake in Charles Schwab during the second quarter worth about $287,000. Prestige Wealth Management Group LLC lifted its position in Charles Schwab by 1,842.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 3,962 shares of the financial services provider's stock worth $292,000 after buying an additional 3,758 shares during the last quarter. Ballentine Partners LLC boosted its stake in Charles Schwab by 1.0% in the second quarter. Ballentine Partners LLC now owns 21,666 shares of the financial services provider's stock worth $1,597,000 after buying an additional 212 shares in the last quarter. Caprock Group LLC grew its position in Charles Schwab by 16.3% during the second quarter. Caprock Group LLC now owns 55,955 shares of the financial services provider's stock valued at $4,123,000 after acquiring an additional 7,848 shares during the last quarter. Finally, Certuity LLC raised its stake in shares of Charles Schwab by 870.7% during the second quarter. Certuity LLC now owns 46,203 shares of the financial services provider's stock worth $3,405,000 after acquiring an additional 41,443 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 0.6 %

Shares of SCHW opened at $63.41 on Thursday. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The firm has a market capitalization of $112.77 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.18 and a beta of 0.97. The firm's 50-day moving average price is $65.80 and its 200-day moving average price is $70.08. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

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Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business's revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, August 9th. Charles Schwab's dividend payout ratio is currently 41.84%.

Wall Street Analysts Forecast Growth

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A number of brokerages have recently issued reports on SCHW. UBS Group cut their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $80.00 price objective on shares of Charles Schwab in a research note on Thursday, August 22nd. Morgan Stanley decreased their price objective on Charles Schwab from $71.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $79.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Charles Schwab from $82.00 to $78.00 and set an "overweight" rating for the company in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $74.00.

View Our Latest Analysis on SCHW

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now directly owns 570,657 shares of the company's stock, valued at approximately $41,366,925.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now owns 570,657 shares of the company's stock, valued at approximately $41,366,925.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the business's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,636 shares of company stock worth $6,533,064. Corporate 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.

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