Spectrum Asset Management Inc. NB CA cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 62,028 shares of the financial services provider’s stock after selling 2,804 shares during the period. The Charles Schwab comprises about 1.4% of Spectrum Asset Management Inc. NB CA’s holdings, making the stock its 18th biggest holding. Spectrum Asset Management Inc. NB CA’s holdings in The Charles Schwab were worth $4,516,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of SCHW. Artisan Partners Limited Partnership acquired a new position in The Charles Schwab during the first quarter worth $491,462,000. BlackRock Inc. raised its position in shares of The Charles Schwab by 5.2% in the first quarter. BlackRock Inc. now owns 107,777,235 shares of the financial services provider’s stock valued at $7,024,923,000 after buying an additional 5,311,989 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of The Charles Schwab by 6.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 34,869,150 shares of the financial services provider’s stock valued at $2,272,772,000 after buying an additional 2,082,363 shares during the last quarter. Bessemer Group Inc. raised its position in shares of The Charles Schwab by 63.0% in the first quarter. Bessemer Group Inc. now owns 4,922,806 shares of the financial services provider’s stock valued at $320,868,000 after buying an additional 1,903,163 shares during the last quarter. Finally, Tesco Pension Investment Ltd acquired a new stake in shares of The Charles Schwab in the first quarter valued at about $122,625,000. Institutional investors own 71.66% of the company’s stock.
In related news, Chairman Charles R. Schwab sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $70.00, for a total transaction of $182,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Peter J. Morgan III sold 1,043 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $75.58, for a total value of $78,829.94. Following the completion of the sale, the executive vice president now directly owns 8,358 shares in the company, valued at $631,697.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 513,260 shares of company stock worth $37,395,889. 7.50% of the stock is currently owned by corporate insiders.
Shares of NYSE:SCHW traded down $0.59 during trading on Tuesday, reaching $68.21. 57,364 shares of the stock were exchanged, compared to its average volume of 7,307,548. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.36 and a current ratio of 0.36. The Charles Schwab Co. has a 12-month low of $33.96 and a 12-month high of $76.37. The firm has a market cap of $123.26 billion, a price-to-earnings ratio of 29.03 and a beta of 1.05. The firm’s 50-day moving average price is $71.10 and its 200 day moving average price is $70.16.
The Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, July 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.46 billion. The Charles Schwab had a return on equity of 12.89% and a net margin of 28.88%. The firm’s revenue for the quarter was up 84.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Friday, August 13th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, August 12th. The Charles Schwab’s payout ratio is 29.39%.
The Charles Schwab Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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