Signet Financial Management LLC Makes New $3.28 Million Investment in Charles Schwab Co. (NYSE:SCHW)

Signet Financial Management LLC bought a new stake in Charles Schwab Co. (NYSE:SCHW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 74,524 shares of the financial services provider’s stock, valued at approximately $3,283,000.

Other large investors have also recently modified their holdings of the company. Blume Capital Management Inc. increased its stake in shares of Charles Schwab by 21.7% in the second quarter. Blume Capital Management Inc. now owns 1,400 shares of the financial services provider’s stock worth $56,000 after buying an additional 250 shares during the period. ETF Managers Group LLC increased its position in shares of Charles Schwab by 10.3% in the first quarter. ETF Managers Group LLC now owns 2,753 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 258 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Charles Schwab by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 7,400 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 260 shares during the period. Associated Banc Corp raised its stake in shares of Charles Schwab by 1.6% during the second quarter. Associated Banc Corp now owns 16,864 shares of the financial services provider’s stock valued at $678,000 after acquiring an additional 267 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in shares of Charles Schwab by 1.9% during the second quarter. Grove Bank & Trust now owns 14,850 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 280 shares during the period. Institutional investors own 79.93% of the company’s stock.

Shares of NYSE:SCHW traded up $0.74 on Wednesday, reaching $42.70. The company had a trading volume of 5,186,427 shares, compared to its average volume of 7,533,573. The firm has a market capitalization of $53.73 billion, a PE ratio of 17.43, a PEG ratio of 2.71 and a beta of 1.29. 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 52-week low of $35.85 and a 52-week high of $52.70. The firm’s 50 day simple moving average is $39.18 and its 200-day simple moving average is $42.38.

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

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

In other news, Director Mark A. Goldfarb acquired 2,595 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $38.68 per share, with a total value of $100,374.60. Following the purchase, the director now directly owns 3,771 shares of the company’s stock, valued at $145,862.28. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $40.20, for a total transaction of $150,348.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,255 shares of company stock valued at $4,566,955. 10.90% of the stock is currently owned by company insiders.

SCHW has been the subject of several research analyst reports. Wells Fargo & Co raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, July 22nd. Argus reaffirmed a “buy” rating and set a $52.00 price objective (down from $57.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Wolfe Research raised Charles Schwab from a “peer perform” rating to an “outperform” rating and upped their price target for the stock from $42.00 to $46.00 in a research note on Tuesday, September 3rd. Bank of America downgraded Charles Schwab from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $49.00 to $43.00 in a report on Friday, July 12th. Finally, Citigroup lowered 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. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $47.25.

Charles Schwab Company 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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