MetLife Investment Management LLC Has $21.38 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

MetLife Investment Management LLC trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,120 shares of the financial services provider’s stock after selling 50,104 shares during the period. MetLife Investment Management LLC’s holdings in Charles Schwab were worth $21,375,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Key Financial Inc lifted its holdings in Charles Schwab by 144.3% during the 2nd quarter. Key Financial Inc now owns 447 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 264 shares during the last quarter. AlphaMark Advisors LLC bought a new position in shares of Charles Schwab in the second quarter worth about $28,000. Global Trust Asset Management LLC raised its stake in shares of Charles Schwab by 633.8% in the second quarter. Global Trust Asset Management LLC now owns 521 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 450 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Charles Schwab by 1,236.6% in the second quarter. SJS Investment Consulting Inc. now owns 548 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 507 shares during the last quarter. Finally, Worth Asset Management LLC bought a new position in shares of Charles Schwab in the first quarter worth about $32,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Down 0.4 %

Charles Schwab stock opened at $56.31 on Tuesday. The stock has a market capitalization of $99.76 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.46 and a beta of 0.94. The Charles Schwab Co. has a twelve month low of $45.00 and a twelve month high of $86.63. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $53.96 and a 200-day moving average of $56.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.62 billion. Charles Schwab had a net margin of 30.14% and a return on equity of 24.58%. The firm’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, equities research 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 declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 33.33%.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total transaction of $476,880.00. Following the completion of the sale, the general counsel now owns 8,014 shares in the company, valued at approximately $477,714.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, General Counsel Peter J. Morgan III sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total transaction of $476,880.00. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. Also, CFO Peter B. Crawford sold 3,792 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $57.31, for a total transaction of $217,319.52. Following the transaction, the chief financial officer now directly owns 44,725 shares in the company, valued at $2,563,189.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,824 shares of company stock valued at $1,214,937. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Raymond James boosted their target price on shares of Charles Schwab from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Jefferies Financial Group dropped their target price on shares of Charles Schwab from $66.00 to $62.00 in a research note on Tuesday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charles Schwab from $70.00 to $69.00 in a research report on Wednesday, October 11th. JPMorgan Chase & Co. lowered their price target on shares of Charles Schwab from $92.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Finally, Morgan Stanley lowered their price target on shares of Charles Schwab from $71.00 to $64.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.91.

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.