Gyroscope Capital Management Group LLC Grows Position in Charles Schwab Co. (NYSE:SCHW)

Gyroscope Capital Management Group LLC boosted its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,031 shares of the financial services provider’s stock after purchasing an additional 970 shares during the period. Gyroscope Capital Management Group LLC’s holdings in Charles Schwab were worth $633,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SCHW. Nuveen Asset Management LLC grew its position in Charles Schwab by 12,401.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,862,927 shares of the financial services provider’s stock worth $275,821,000 after purchasing an additional 6,808,032 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Charles Schwab by 3.7% in the 2nd quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock valued at $3,499,773,000 after acquiring an additional 3,140,824 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Charles Schwab by 24.0% in the 1st quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after acquiring an additional 2,880,846 shares during the last quarter. Boston Partners boosted its holdings in shares of Charles Schwab by 287.1% in the 2nd quarter. Boston Partners now owns 3,792,595 shares of the financial services provider’s stock valued at $152,428,000 after acquiring an additional 2,812,729 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Charles Schwab by 132.2% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,490,027 shares of the financial services provider’s stock valued at $140,265,000 after acquiring an additional 1,987,302 shares during the last quarter. 79.02% of the stock is currently owned by institutional investors.

Shares of SCHW stock traded up $1.33 during trading hours on Friday, hitting $37.47. The company’s stock had a trading volume of 494,340 shares, compared to its average volume of 10,750,314. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $39.41 and a 200 day moving average of $41.65. Charles Schwab Co. has a 12-month low of $34.58 and a 12-month high of $50.06. The stock has a market cap of $48.16 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Charles Schwab Co. will post 2.63 earnings per share for the current fiscal year.

In related news, Chairman Charles R. Schwab sold 105,422 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $42.03, for a total value of $4,430,886.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan M. Craig sold 3,740 shares of the business’s stock in a transaction on Monday, July 15th. The shares were 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. Over the last quarter, insiders sold 219,677 shares of company stock valued at $8,997,842. Company insiders own 10.90% of the company’s stock.

Several analysts have recently commented on SCHW shares. Keefe, Bruyette & Woods downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $43.50 in a report on Friday, July 12th. Bank of America downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $49.00 to $43.00 in a report on Friday, July 12th. Deutsche Bank dropped their price objective on shares of Charles Schwab from $37.00 to $34.00 and set a “hold” rating on the stock in a report on Wednesday, October 2nd. UBS Group dropped their price objective on shares of Charles Schwab from $36.00 to $33.00 and set a “sell” rating on the stock in a report on Wednesday, October 2nd. Finally, Barclays downgraded shares of Charles Schwab from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $48.00 to $34.00 in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $44.34.

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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