Forum Financial Management LP Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Forum Financial Management LP trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,300 shares of the financial services provider’s stock after selling 148 shares during the quarter. Forum Financial Management LP’s holdings in Charles Schwab were worth $1,121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 valued at $8,750,473,000 after acquiring an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 in the last quarter. Legal & General Group Plc boosted its position 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 worth $802,193,000 after purchasing an additional 225,397 shares in the last quarter. Allen Investment Management LLC boosted its position in shares of Charles Schwab by 3.0% in 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 in the last quarter. Finally, Lazard Asset Management LLC lifted 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 acquiring an additional 596,589 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on SCHW shares. Wells Fargo & Company lifted their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Cowen lifted their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Piper Sandler lifted their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Citigroup reduced their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.94.

Charles Schwab Trading Up 0.0 %

SCHW opened at $70.96 on Tuesday. The Charles Schwab Co. has a one year low of $53.49 and a one year high of $79.49. The stock has a market capitalization of $126.20 billion, a PE ratio of 27.72, a P/E/G ratio of 1.62 and a beta of 0.96. The business’s 50 day moving average price is $66.52 and its 200 day moving average price is $69.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,465 shares of company stock worth $8,050,109 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

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