International Assets Investment Management LLC Sells 880,037 Shares of The Charles Schwab Co. (NYSE:SCHW)

International Assets Investment Management LLC lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 98.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,742 shares of the financial services provider’s stock after selling 880,037 shares during the quarter. International Assets Investment Management LLC’s holdings in Charles Schwab were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHW. State Street Corp grew its stake in Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after purchasing an additional 414,949 shares during the period. Geode Capital Management LLC increased its holdings in Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after buying an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the period. Franklin Resources Inc. boosted its stake in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Charles Schwab by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after acquiring an additional 493,264 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of 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 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,968 shares of company stock valued at $8,842,821. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $74.00 to $95.00 in a report on Monday, December 9th. Jefferies Financial Group upped their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler lifted their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday. Raymond James dropped their price objective on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Finally, Truist Financial upgraded shares of Charles Schwab to a “strong-buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.19.

Charles Schwab Stock Performance

Shares of SCHW opened at $72.93 on Friday. The Charles Schwab Co. has a 12-month low of $59.67 and a 12-month high of $83.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $129.79 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The stock has a 50-day moving average price of $77.53 and a 200-day moving average price of $70.65.

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. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.37%. Charles Schwab’s payout ratio is 39.06%.

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.