First Horizon Advisors Inc. Sells 773 Shares of The Charles Schwab Co. (NYSE:SCHW)

First Horizon Advisors Inc. lowered its stake in The Charles Schwab Co. (NYSE:SCHW) by 20.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,965 shares of the financial services provider’s stock after selling 773 shares during the quarter. First Horizon Advisors Inc.’s holdings in Charles Schwab were worth $192,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Patten & Patten Inc. TN grew its stake in Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after acquiring an additional 63,463 shares during the period. Equity Investment Corp increased its stake in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after purchasing an additional 140,643 shares in the last quarter. Teewinot Capital Advisers L.L.C. raised its holdings in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after buying an additional 64,041 shares during the last quarter. Iowa State Bank lifted its stake in shares of Charles Schwab by 37.9% in the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after buying an additional 7,829 shares in the last quarter. Finally, Radnor Capital Management LLC acquired a new position in shares of Charles Schwab during the third quarter valued at about $6,081,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SCHW shares. Citigroup dropped their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Piper Sandler raised 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. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley raised their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average target price of $74.18.

Charles Schwab Trading Up 0.6 %

Shares of SCHW opened at $81.26 on Friday. The firm has a market cap of $144.62 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. The Charles Schwab Co. has a fifty-two week low of $55.59 and a fifty-two week high of $82.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The business has a 50-day moving average of $70.55 and a 200 day moving average of $69.81.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. 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 net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm earned $0.77 EPS. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This represents a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction 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 trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,929 shares of company stock worth $8,196,624 in the last quarter. 6.60% of the stock is owned by company insiders.

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.