Journey Advisory Group LLC Has $453,000 Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Journey Advisory Group LLC lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,144 shares of the financial services provider’s stock after selling 400 shares during the quarter. Journey Advisory Group LLC’s holdings in Charles Schwab were worth $453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators increased its position in Charles Schwab by 44.5% during the second quarter. Deseret Mutual Benefit Administrators now owns 2,638 shares of the financial services provider’s stock worth $194,000 after buying an additional 812 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Charles Schwab by 2.9% during the 2nd quarter. Mayflower Financial Advisors LLC now owns 7,634 shares of the financial services provider’s stock worth $563,000 after acquiring an additional 218 shares during the period. TD Asset Management Inc increased its holdings in shares of Charles Schwab by 3.5% during the 2nd quarter. TD Asset Management Inc now owns 536,906 shares of the financial services provider’s stock worth $39,565,000 after acquiring an additional 18,121 shares during the last quarter. Stablepoint Partners LLC raised its stake in Charles Schwab by 7.5% in the 2nd quarter. Stablepoint Partners LLC now owns 11,721 shares of the financial services provider’s stock valued at $864,000 after acquiring an additional 822 shares during the period. Finally, GPM Growth Investors Inc. acquired a new stake in Charles Schwab during the 2nd quarter valued at $3,386,000. 84.38% of the stock is owned by institutional investors.

Insider Transactions at Charles Schwab

In related news, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Bernard J. Clark sold 8,164 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the transaction, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,800 shares of company stock worth $7,145,364. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.3 %

SCHW stock opened at $63.69 on Friday. The stock has a market capitalization of $113.27 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $66.66 and a 200-day moving average price of $70.07. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49.

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

Charles Schwab Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on SCHW shares. JPMorgan Chase & Co. decreased their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $80.00 to $64.00 in a research note on Monday, July 29th. JMP Securities cut their price objective on shares of 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. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Thursday, August 22nd. Finally, TD Cowen reiterated a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.