Apriem Advisors Has $287,000 Position in Charles Schwab Co. (NYSE:SCHW)

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Apriem Advisors lowered its stake in Charles Schwab Co. (NYSE:SCHW) by 6.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,142 shares of the financial services provider’s stock after selling 522 shares during the quarter. Apriem Advisors’ holdings in Charles Schwab were worth $287,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of SCHW. BlackRock Inc. lifted its stake in shares of Charles Schwab by 3.7% during the 2nd quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock worth $3,499,773,000 after purchasing an additional 3,140,824 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Charles Schwab by 24.0% during the 1st quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock worth $635,577,000 after purchasing an additional 2,880,846 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Charles Schwab by 132.2% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,490,027 shares of the financial services provider’s stock worth $140,265,000 after purchasing an additional 1,987,302 shares during the period. Eminence Capital LP lifted its stake in shares of Charles Schwab by 61.0% during the 2nd quarter. Eminence Capital LP now owns 5,219,005 shares of the financial services provider’s stock worth $209,752,000 after purchasing an additional 1,977,025 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Charles Schwab during the 1st quarter worth $77,259,000. 79.02% of the stock is currently owned by hedge funds and other institutional investors.

In other Charles Schwab news, Director Stephen T. Mclin sold 5,093 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total value of $191,293.08. Following the completion of the sale, the director now owns 7,297 shares of the company’s stock, valued at $274,075.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 105,422 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.08, for a total transaction of $4,225,313.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,677 shares of company stock valued at $8,997,842. 10.90% of the stock is currently owned by insiders.

SCHW has been the subject of a number of research analyst reports. Compass Point set a $45.00 price objective on Charles Schwab and gave the stock a “hold” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $43.50 in a research report on Friday, July 12th. Credit Suisse Group decreased their price objective on shares of Charles Schwab from $55.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Argus reaffirmed a “buy” rating and set a $52.00 price target (down previously from $57.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Wells Fargo & Co cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $50.00 to $38.00 in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Charles Schwab has a consensus rating of “Hold” and an average target price of $44.34.

Shares of SCHW stock traded up $1.14 during trading hours on Friday, reaching $37.28. 10,364,754 shares of the company were exchanged, compared to its average volume of 11,125,315. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $46.63 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 2.39 and a beta of 1.32. The stock’s fifty day moving average is $39.40 and its two-hundred day moving average is $41.63. Charles Schwab Co. has a fifty-two week low of $34.58 and a fifty-two week high of $49.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.68 billion. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. Charles Schwab’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, research analysts anticipate that Charles Schwab Co. will post 2.63 earnings per share for the current year.

Charles Schwab 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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