Amalgamated Bank Trims Position in The Charles Schwab Co. (NYSE:SCHW)

Amalgamated Bank cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 303,251 shares of the financial services provider’s stock after selling 4,504 shares during the period. Amalgamated Bank’s holdings in Charles Schwab were worth $22,347,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SCHW. Morningstar Investment Services LLC grew its position in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after purchasing an additional 2,322,156 shares in the last quarter. M&G Plc purchased a new position in shares of Charles Schwab in the 1st quarter valued at $11,452,000. Daiwa Securities Group Inc. increased its holdings in shares of Charles Schwab by 10.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after acquiring an additional 17,925 shares during the period. Wedmont Private Capital increased its holdings in shares of Charles Schwab by 12.2% in the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after acquiring an additional 1,430 shares during the period. Finally, Bridgewater Associates LP increased its position in Charles Schwab by 217.8% during the 4th quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock valued at $13,371,000 after buying an additional 133,186 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SCHW shares. TD Cowen restated a “hold” rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a report on Thursday, August 22nd. UBS Group lowered their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. JMP Securities lowered their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, Barclays decreased their target price 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.75.

Insiders Place Their Bets

In other Charles Schwab 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 value of $557,640.00. Following the transaction, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $35,134,851.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,636 shares of company stock valued at $6,533,064. Insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 0.2 %

Charles Schwab stock opened at $63.84 on Wednesday. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. 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 firm has a market capitalization of $113.46 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 1.16 and a beta of 0.97. The company has a 50 day moving average price of $64.93 and a 200 day moving average price of $70.03.

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

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.