The Charles Schwab Co. (NYSE:SCHW) Stake Decreased by Condor Capital Management

Condor Capital Management trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 62,770 shares of the financial services provider’s stock after selling 2,940 shares during the quarter. Condor Capital Management’s holdings in Charles Schwab were worth $4,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SCHW. Country Trust Bank acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab in the second quarter worth approximately $27,000. Fortitude Family Office LLC raised its holdings in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the period. CGC Financial Services LLC purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Charles Schwab in the 2nd quarter worth approximately $29,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, CEO Walter W. Bettinger acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Walter W. Bettinger bought 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total value of $652,410.00. Following the transaction, the director now directly owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The disclosure for this sale can be found here. In the last three months, insiders sold 99,636 shares of company stock worth $6,533,064. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $64.00 in a report on Monday, July 29th. Bank of America decreased their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, JMP Securities cut their target price 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.75.

Charles Schwab Stock Up 0.6 %

Shares of NYSE SCHW opened at $62.12 on Friday. The firm has a 50 day moving average price of $65.33 and a 200 day moving average price of $70.00. 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 stock has a market cap of $110.48 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. Analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 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.