Pettyjohn Wood & White Inc. Buys 3,205 Shares of Charles Schwab Co. Common Stock (SCHW)

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Pettyjohn Wood & White Inc. boosted its stake in shares of Charles Schwab Co. Common Stock (NYSE:SCHW) by 75.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,458 shares of the financial services provider’s stock after purchasing an additional 3,205 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Charles Schwab Co. Common Stock were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. CSat Investment Advisory L.P. purchased a new stake in Charles Schwab Co. Common Stock in the second quarter valued at about $704,000. OppenheimerFunds Inc. raised its stake in Charles Schwab Co. Common Stock by 12.2% in the second quarter. OppenheimerFunds Inc. now owns 2,070,062 shares of the financial services provider’s stock valued at $105,780,000 after buying an additional 225,163 shares during the last quarter. Van ECK Associates Corp raised its stake in Charles Schwab Co. Common Stock by 22.2% in the second quarter. Van ECK Associates Corp now owns 401,573 shares of the financial services provider’s stock valued at $20,520,000 after buying an additional 72,861 shares during the last quarter. Aureus Asset Management LLC raised its stake in Charles Schwab Co. Common Stock by 2.5% in the second quarter. Aureus Asset Management LLC now owns 444,379 shares of the financial services provider’s stock valued at $22,708,000 after buying an additional 10,682 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Charles Schwab Co. Common Stock by 8.8% in the second quarter. Baird Financial Group Inc. now owns 191,568 shares of the financial services provider’s stock valued at $9,789,000 after buying an additional 15,438 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

Charles Schwab Co. Common Stock stock opened at $51.23 on Wednesday. The stock has a market cap of $68.62 billion, a P/E ratio of 31.24, a P/E/G ratio of 1.27 and a beta of 1.54. Charles Schwab Co. Common Stock has a 52 week low of $38.06 and a 52 week high of $60.22. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33.

Charles Schwab Co. Common Stock (NYSE:SCHW) last posted its earnings results on Tuesday, July 17th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. Charles Schwab Co. Common Stock had a return on equity of 17.96% and a net margin of 30.83%. Charles Schwab Co. Common Stock’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. research analysts anticipate that Charles Schwab Co. Common Stock will post 2.43 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Friday, August 10th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.02%. This is a positive change from Charles Schwab Co. Common Stock’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, August 9th. Charles Schwab Co. Common Stock’s dividend payout ratio (DPR) is 31.71%.

In other Charles Schwab Co. Common Stock news, Director Christopher V. Dodds sold 15,718 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $51.14, for a total value of $803,818.52. Following the sale, the director now directly owns 7,592 shares of the company’s stock, valued at $388,254.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 190,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $52.75, for a total value of $10,048,875.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 208,847 shares of company stock worth $10,999,996. 11.50% of the stock is owned by corporate insiders.

SCHW has been the subject of a number of research analyst reports. Wells Fargo & Co increased their price target on Charles Schwab Co. Common Stock from $54.00 to $56.00 and gave the company a “$54.22” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded Charles Schwab Co. Common Stock from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, June 26th. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price objective on shares of Charles Schwab Co. Common Stock in a research note on Monday, July 16th. JPMorgan Chase & Co. set a $59.00 price objective on Charles Schwab Co. Common Stock and gave the stock a “buy” rating in a research note on Monday, July 16th. Finally, ValuEngine cut Charles Schwab Co. Common Stock from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Charles Schwab Co. Common Stock has an average rating of “Hold” and a consensus price target of $57.80.

About Charles Schwab Co. Common Stock

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 Co. Common Stock (NYSE:SCHW)

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