Nisa Investment Advisors LLC Trims Holdings in The Charles Schwab Co. (NYSE:SCHW)

Nisa Investment Advisors LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 30.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 402,044 shares of the financial services provider’s stock after selling 176,299 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Charles Schwab were worth $29,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in Charles Schwab by 12.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 34,188 shares of the financial services provider’s stock valued at $2,519,000 after acquiring an additional 3,873 shares during the last quarter. Spectrum Financial Alliance Ltd LLC lifted its stake in shares of Charles Schwab by 1.3% in the 2nd quarter. Spectrum Financial Alliance Ltd LLC now owns 137,582 shares of the financial services provider’s stock valued at $10,138,000 after purchasing an additional 1,762 shares during the last quarter. Central Bank & Trust Co. grew its holdings in shares of Charles Schwab by 0.9% during the 2nd quarter. Central Bank & Trust Co. now owns 41,969 shares of the financial services provider’s stock worth $3,093,000 after purchasing an additional 366 shares during the period. Argus Investors Counsel Inc. grew its holdings in shares of Charles Schwab by 1.2% during the 2nd quarter. Argus Investors Counsel Inc. now owns 27,262 shares of the financial services provider’s stock worth $2,009,000 after purchasing an additional 327 shares during the period. Finally, MONECO Advisors LLC increased its position in shares of Charles Schwab by 7.2% during the 2nd quarter. MONECO Advisors LLC now owns 3,457 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 231 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the transaction, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Bernard J. Clark sold 8,164 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the sale, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Richard A. Wurster bought 10,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the acquisition, the president now directly owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Insiders sold a total of 172,911 shares of company stock valued at $11,836,288 over the last ninety days. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group lowered their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. JMP Securities cut their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. TD Cowen restated a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Bank of America cut their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Finally, Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $64.00 in a report on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.27.

Charles Schwab Stock Down 0.2 %

NYSE SCHW traded down $0.10 during trading on Monday, reaching $65.45. 2,405,381 shares of the company’s stock were exchanged, compared to its average volume of 7,989,349. The company has a 50 day moving average price of $69.14 and a two-hundred day moving average price of $70.02. The stock has a market cap of $116.40 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 1.23 and a beta of 0.99. 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 quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly 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. 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 during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.53%. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.