Cidel Asset Management Inc. Buys Shares of 14,300 The Charles Schwab Co. (NYSE:SCHW)

by · The Cerbat Gem

Cidel Asset Management Inc. purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,300 shares of the financial services provider’s stock, valued at approximately $811,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cloverfields Capital Group LP raised its holdings in shares of Charles Schwab by 11.5% during the 1st quarter. Cloverfields Capital Group LP now owns 50,785 shares of the financial services provider’s stock worth $2,660,000 after acquiring an additional 5,246 shares during the period. Independent Advisor Alliance raised its stake in Charles Schwab by 334.1% during the second quarter. Independent Advisor Alliance now owns 55,268 shares of the financial services provider’s stock worth $3,133,000 after purchasing an additional 42,535 shares during the period. Baker Tilly Wealth Management LLC boosted its holdings in Charles Schwab by 2.0% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 11,729 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 229 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Charles Schwab by 21.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,839 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 677 shares during the last quarter. Finally, Bard Financial Services Inc. grew its stake in shares of Charles Schwab by 372.9% in the 2nd quarter. Bard Financial Services Inc. now owns 24,475 shares of the financial services provider’s stock valued at $1,387,000 after buying an additional 19,300 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SCHW. Morgan Stanley decreased their price objective on Charles Schwab from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. StockNews.com initiated coverage on Charles Schwab in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Charles Schwab from $70.00 to $69.00 in a research report on Wednesday, October 11th. Barclays upped their target price on shares of Charles Schwab from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Charles Schwab from $92.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.85.

Read Our Latest Stock Analysis on SCHW

Charles Schwab Stock Up 0.3 %

Shares of NYSE SCHW traded up $0.20 during mid-day trading on Friday, hitting $61.52. The company had a trading volume of 1,090,171 shares, compared to its average volume of 15,204,601. The company has a market capitalization of $108.99 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.63 and a beta of 0.94. The business’s 50-day simple moving average is $53.79 and its 200 day simple moving average is $56.73. The Charles Schwab Co. has a 1-year low of $45.00 and a 1-year high of $86.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.66 and a quick ratio of 0.66.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Charles Schwab had a return on equity of 24.58% and a net margin of 30.14%. The business’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 EPS. On average, analysts predict that The Charles Schwab Co. will post 3.16 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. Charles Schwab’s payout ratio is 33.33%.

Insider Buying and Selling

In other Charles Schwab news, Director Paula A. Sneed sold 6,918 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $49.98, for a total value of $345,761.64. Following the sale, the director now directly owns 112,398 shares in the company, valued at $5,617,652.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Peter B. Crawford sold 3,114 shares of Charles Schwab stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $56.19, for a total transaction of $174,975.66. Following the sale, the chief financial officer now directly owns 41,611 shares in the company, valued at approximately $2,338,122.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paula A. Sneed sold 6,918 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $49.98, for a total transaction of $345,761.64. Following the completion of the transaction, the director now owns 112,398 shares of the company’s stock, valued at approximately $5,617,652.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,824 shares of company stock worth $738,057. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Company Profile

(Free Report)

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. The company operates in two segments, Investor Services and Advisor Services.

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