Financial Architects Inc decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,130 shares of the financial services provider’s stock after selling 195 shares during the quarter. Financial Architects Inc’s holdings in Charles Schwab were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in SCHW. Cloverfields Capital Group LP raised its holdings in shares of Charles Schwab by 11.5% during the first quarter. Cloverfields Capital Group LP now owns 50,785 shares of the financial services provider’s stock valued at $2,660,000 after purchasing an additional 5,246 shares during the last quarter. Independent Advisor Alliance raised its stake in Charles Schwab by 334.1% during the 2nd quarter. Independent Advisor Alliance now owns 55,268 shares of the financial services provider’s stock valued at $3,133,000 after buying an additional 42,535 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in shares of Charles Schwab by 2.0% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 11,729 shares of the financial services provider’s stock valued at $665,000 after buying an additional 229 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Charles Schwab by 21.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,839 shares of the financial services provider’s stock worth $218,000 after buying an additional 677 shares during the last quarter. Finally, Bard Financial Services Inc. grew its holdings in shares of Charles Schwab by 372.9% in the second quarter. Bard Financial Services Inc. now owns 24,475 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 19,300 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Charles Schwab news, General Counsel Peter J. Morgan III sold 8,000 shares of the firm’s 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 sale, the general counsel now directly owns 8,014 shares in the company, valued at $477,714.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Peter B. Crawford sold 3,792 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $57.31, for a total value of $217,319.52. Following the completion of the transaction, the chief financial officer now directly owns 44,725 shares of the company’s stock, valued at approximately $2,563,189.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 8,000 shares of Charles Schwab stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $59.61, for a total transaction of $476,880.00. Following the sale, the general counsel now owns 8,014 shares of the company’s stock, valued at $477,714.54. The disclosure for this sale can be found here. Insiders sold a total of 21,824 shares of company stock worth $1,214,937 in the last 90 days. 6.60% of the stock is owned by corporate insiders.
Charles Schwab Stock Performance
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings results on Monday, October 16th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 24.58% and a net margin of 30.14%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same period in the previous year, the company posted $1.10 EPS. The business’s revenue for the quarter was down 16.3% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.16 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 9th. Charles Schwab’s payout ratio is currently 33.33%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on SCHW shares. StockNews.com began coverage on Charles Schwab in a research report on Thursday, October 5th. They set a “sell” rating for the company. JMP Securities restated a “market outperform” rating and set a $77.00 price objective on shares of Charles Schwab in a research report on Tuesday, October 17th. Piper Sandler dropped their target price on Charles Schwab from $86.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, October 9th. Jefferies Financial Group dropped their price objective on shares of Charles Schwab from $66.00 to $62.00 in a research note on Tuesday, October 10th. Finally, UBS Group reduced their price objective on shares of Charles Schwab from $80.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.91.
Charles Schwab Company 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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