Essex LLC Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

Essex LLC lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.4% during the third quarter, HoldingsChannel.com reports. The firm owned 4,050 shares of the financial services provider’s stock after selling 370 shares during the period. Essex LLC’s holdings in Charles Schwab were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SCHW. Vanguard Group Inc. raised its position in shares of Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Legal & General Group Plc lifted its stake in shares of Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after purchasing an additional 225,397 shares in the last quarter. Allen Investment Management LLC grew its holdings in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after purchasing an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC increased its position in Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after purchasing an additional 596,589 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,001 shares of company stock valued at $12,512,592. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SCHW. JMP Securities increased their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Barclays increased their price target on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday. Piper Sandler upped their target price on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Bank of America dropped their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $73.59.

Charles Schwab Trading Down 0.8 %

Shares of NYSE:SCHW opened at $71.36 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $64.97 and its 200 day moving average price is $69.51. The company has a market cap of $126.91 billion, a PE ratio of 29.61, a P/E/G ratio of 1.47 and a beta of 0.97. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. Charles Schwab’s payout ratio is 41.49%.

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.