Private Asset Management Inc. decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 57.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,973 shares of the financial services provider’s stock after selling 11,908 shares during the period. Private Asset Management Inc.’s holdings in Charles Schwab were worth $509,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SCHW. Beacon Capital Management LLC acquired a new stake in shares of Charles Schwab in the first quarter valued at about $25,000. Your Advocates Ltd. LLP bought a new position in Charles Schwab in the 1st quarter worth approximately $25,000. Carolina Wealth Advisors LLC increased its position in Charles Schwab by 54.8% in the 1st quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Charles Schwab in the first quarter valued at approximately $30,000. Finally, Rocky Mountain Advisers LLC grew its stake in shares of Charles Schwab by 704.2% in the first quarter. Rocky Mountain Advisers LLC now owns 571 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on SCHW. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Saturday, September 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $70.00 to $74.00 in a research report on Wednesday, July 19th. Jefferies Financial Group boosted their price objective on Charles Schwab from $64.00 to $66.00 in a research report on Monday, July 10th. Wolfe Research lowered their price target on shares of Charles Schwab from $62.00 to $60.00 in a report on Monday, June 26th. Finally, Piper Sandler raised their price objective on shares of Charles Schwab from $77.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.09.
Insider Activity at Charles Schwab
In related news, Chairman Charles R. Schwab sold 75,760 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $66.60, for a total transaction of $5,045,616.00. Following the transaction, the chairman now owns 59,672,778 shares of the company’s stock, valued at approximately $3,974,207,014.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 75,760 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $66.60, for a total value of $5,045,616.00. Following the completion of the sale, the chairman now directly owns 59,672,778 shares in the company, valued at $3,974,207,014.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 72,047 shares of Charles Schwab stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $66.66, for a total value of $4,802,653.02. Following the transaction, the chairman now owns 59,748,538 shares in the company, valued at approximately $3,982,837,543.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,807 shares of company stock worth $10,325,149. 6.60% of the stock is owned by insiders.
Charles Schwab Price Performance
Shares of SCHW stock traded up $0.98 during trading hours on Thursday, reaching $59.71. 1,064,271 shares of the company were exchanged, compared to its average volume of 16,742,520. The Charles Schwab Co. has a fifty-two week low of $45.00 and a fifty-two week high of $86.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.39. The stock’s fifty day moving average is $61.54 and its two-hundred day moving average is $57.51. The company has a market cap of $105.70 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.94 and a beta of 0.92.
Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.61 billion. Charles Schwab had a return on equity of 27.54% and a net margin of 33.15%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 earnings per share. Sell-side analysts forecast that The Charles Schwab Co. will post 3.27 earnings per share for the current fiscal year.
Charles Schwab Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Thursday, August 10th. Charles Schwab’s dividend payout ratio is presently 29.15%.
Charles Schwab Profile
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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