The Charles Schwab Co. (NYSE:SCHW) Stake Lowered by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 30.6% in the 3rd quarter, Holdings Channel reports. The firm owned 24,745 shares of the financial services provider’s stock after selling 10,887 shares during the quarter. QRG Capital Management Inc.’s holdings in Charles Schwab were worth $1,604,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Country Trust Bank bought a new position in shares of Charles Schwab during the second quarter valued at approximately $26,000. Fortitude Family Office LLC grew its holdings in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares in the last quarter. American Capital Advisory LLC bought a new position in Charles Schwab in the 2nd quarter worth approximately $27,000. CGC Financial Services LLC bought a new position in Charles Schwab in the 2nd quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Charles Schwab in the 2nd quarter worth approximately $29,000. 84.38% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 transaction of $576,450.00. Following the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’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 directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,465 shares of company stock worth $8,050,109. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SCHW shares. Wells Fargo & Company upped their target price 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. 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, October 16th. Jefferies Financial Group cut their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Morgan Stanley upped their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, TD Cowen reiterated a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Trading Down 3.5 %

NYSE SCHW opened at $73.10 on Friday. The Charles Schwab Co. has a 1-year low of $53.49 and a 1-year high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $130.00 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The firm’s fifty day simple moving average is $66.90 and its 200-day simple moving average is $69.49.

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

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

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