Private Wealth Partners LLC Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Private Wealth Partners LLC cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,454 shares of the financial services provider’s stock after selling 3,442 shares during the period. Private Wealth Partners LLC’s holdings in Charles Schwab were worth $2,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC raised its stake in Charles Schwab by 4.8% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 72,420 shares of the financial services provider’s stock valued at $5,337,000 after acquiring an additional 3,325 shares during the last quarter. Eagle Strategies LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth approximately $943,000. BOKF NA raised its stake in shares of Charles Schwab by 23.2% during the 2nd quarter. BOKF NA now owns 24,721 shares of the financial services provider’s stock worth $1,822,000 after buying an additional 4,652 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in shares of Charles Schwab during the 2nd quarter worth approximately $58,000. Finally, Linscomb Wealth Inc. raised its stake in shares of Charles Schwab by 6.9% during the 2nd quarter. Linscomb Wealth Inc. now owns 37,758 shares of the financial services provider’s stock worth $2,782,000 after buying an additional 2,450 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, JMP Securities dropped their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.00.

Charles Schwab Stock Performance

Charles Schwab stock opened at $63.41 on Thursday. The stock’s 50 day moving average price is $65.80 and its 200 day moving average price is $70.08. The firm has a market capitalization of $112.77 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the previous year, the company posted $0.75 EPS. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.58%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the sale, the director now directly owns 570,657 shares in the company, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now directly owns 570,657 shares in the company, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the company’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 transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,636 shares of company stock worth $6,533,064. 6.60% of the stock is currently owned by insiders.

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.