The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 12.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 26,967,993 shares of the financial services provider’s stock after selling 3,785,378 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.52% of Charles Schwab worth $1,987,271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Gryphon Financial Partners LLC purchased a new stake in Charles Schwab during the 4th quarter worth approximately $466,000. Financial Advocates Investment Management bought a new stake in shares of Charles Schwab in the fourth quarter worth $296,000. Level Four Advisory Services LLC raised its holdings in Charles Schwab by 11.9% in the fourth quarter. Level Four Advisory Services LLC now owns 7,743 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 822 shares in the last quarter. Independent Advisor Alliance boosted its stake in Charles Schwab by 4.3% during the 4th quarter. Independent Advisor Alliance now owns 24,905 shares of the financial services provider’s stock valued at $1,713,000 after acquiring an additional 1,016 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in Charles Schwab by 16.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,190 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The stock was bought at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock valued at $6,533,064 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Up 0.6 %

Shares of Charles Schwab stock opened at $62.12 on Monday. The company has a market capitalization of $110.48 billion, a P/E ratio of 25.99, a PEG ratio of 1.16 and a beta of 0.97. The business’s fifty day moving average price is $65.33 and its two-hundred day moving average price is $70.07. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. As a group, research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SCHW shares. Jefferies Financial Group increased their price target on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Barclays lowered their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, UBS Group decreased their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.75.

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.