Jacobson & Schmitt Advisors LLC Lowers Holdings in The Charles Schwab Co. (NYSE:SCHW)

Jacobson & Schmitt Advisors LLC lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,272 shares of the financial services provider’s stock after selling 4,787 shares during the quarter. Charles Schwab accounts for 2.6% of Jacobson & Schmitt Advisors LLC’s holdings, making the stock its 19th largest holding. Jacobson & Schmitt Advisors LLC’s holdings in Charles Schwab were worth $9,076,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in Charles Schwab in the fourth quarter valued at approximately $1,325,555,000. CIBC Private Wealth Group LLC raised its holdings in shares of Charles Schwab by 107.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,784,516 shares of the financial services provider’s stock valued at $1,399,817,000 after buying an additional 8,680,289 shares during the period. Morgan Stanley lifted its stake in Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after acquiring an additional 8,563,389 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in Charles Schwab by 48.7% during the 1st quarter. Flossbach Von Storch AG now owns 16,619,849 shares of the financial services provider’s stock valued at $870,548,000 after acquiring an additional 5,445,011 shares during the period. Finally, Moneta Group Investment Advisors LLC grew its position in Charles Schwab by 91,051.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,365,193 shares of the financial services provider’s stock valued at $446,706,000 after acquiring an additional 5,359,307 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Charles Schwab Stock Up 2.6 %

Shares of NYSE:SCHW opened at $59.30 on Friday. The firm has a 50 day simple moving average of $61.44 and a 200-day simple moving average of $58.09. The Charles Schwab Co. has a twelve month low of $45.00 and a twelve month high of $86.63. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $104.97 billion, a PE ratio of 17.29, a P/E/G ratio of 1.94 and a beta of 0.92.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.61 billion. Charles Schwab had a net margin of 33.15% and a return on equity of 27.54%. Charles Schwab’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS. On average, equities analysts predict that The Charles Schwab Co. will post 3.27 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.69%. Charles Schwab’s dividend payout ratio (DPR) is presently 29.15%.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $59.61, for a total value of $476,880.00. Following the completion of the sale, the general counsel now directly owns 8,014 shares of the company’s stock, valued at $477,714.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Charles A. Ruffel acquired 833 shares of Charles Schwab stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $60.55 per share, with a total value of $50,438.15. Following the purchase, the director now directly owns 3,386 shares in the company, valued at $205,022.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 8,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total value of $476,880.00. Following the completion of the transaction, the general counsel now owns 8,014 shares in the company, valued at $477,714.54. The disclosure for this sale can be found here. Insiders have sold 155,807 shares of company stock worth $10,325,149 in the last quarter. 6.60% of the stock is owned by insiders.

Analyst Ratings Changes

SCHW has been the topic of several research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $70.00 to $74.00 in a research report on Wednesday, July 19th. Bank of America boosted their price target on shares of Charles Schwab from $46.00 to $53.00 in a research note on Thursday, June 15th. Piper Sandler increased their price objective on Charles Schwab from $77.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Citigroup boosted their target price on Charles Schwab from $65.00 to $75.00 in a research note on Wednesday, July 19th. Finally, Raymond James raised Charles Schwab from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.09.

About Charles Schwab

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.