Yacktman Asset Management LP Sells 374,352 Shares of The Charles Schwab Co. (NYSE:SCHW)

Yacktman Asset Management LP decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,906,642 shares of the financial services provider’s stock after selling 374,352 shares during the quarter. Charles Schwab makes up approximately 4.1% of Yacktman Asset Management LP’s holdings, making the stock its 5th largest holding. Yacktman Asset Management LP owned about 0.33% of Charles Schwab worth $435,260,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Norges Bank bought a new stake in shares of Charles Schwab in the 4th quarter valued at $950,192,000. Boston Partners increased its position in shares of Charles Schwab by 424.7% in the 4th quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after buying an additional 3,602,830 shares in the last quarter. Morningstar Investment Services LLC increased its position in shares of Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after buying an additional 2,322,156 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Charles Schwab by 19.7% in the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after buying an additional 1,558,975 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the 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 sale, the director now owns 567,057 shares in the company, valued at approximately $35,134,851.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the 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 sale, the director now owns 567,057 shares in the company, valued at approximately $35,134,851.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bernard J. Clark sold 8,164 shares of the 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 sale, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,800 shares of company stock valued at $7,145,364. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

NYSE:SCHW traded down $0.44 during mid-day trading on Thursday, hitting $63.46. The stock had a trading volume of 1,864,327 shares, compared to its average volume of 7,999,831. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The stock has a market cap of $112.86 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 1.22 and a beta of 0.97. The company’s 50 day simple moving average is $66.86 and its 200 day simple moving average is $70.11. 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 released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion for 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 in the prior year, the firm earned $0.75 EPS. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 dividend yield of 1.58%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Bank of America lowered their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. UBS Group reduced 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. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $74.00.

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.