The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Essex LLC

Essex LLC lowered its stake in The Charles Schwab Co. (NYSE:SCHW) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,050 shares of the financial services provider’s stock after selling 370 shares during the period. Essex LLC’s holdings in Charles Schwab were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in SCHW. Vanguard Group Inc. grew its stake in shares of Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after purchasing an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after acquiring an additional 225,397 shares during the last quarter. Allen Investment Management LLC raised its position in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after acquiring an additional 251,485 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Charles Schwab by 8.9% during the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after purchasing an additional 596,589 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the transaction, the insider now directly owns 61,887 shares in the company, valued at approximately $4,035,032.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares in the company, valued at approximately $4,035,032.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,001 shares of company stock worth $12,512,592 in the last quarter. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SCHW shares. JMP Securities increased their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday. UBS Group cut their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Citigroup decreased their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft cut their target price on Charles Schwab from $77.00 to $76.00 in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.59.

Charles Schwab Stock Performance

NYSE:SCHW opened at $71.36 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $126.91 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. The firm’s fifty day moving average price is $64.97 and its 200 day moving average price is $69.51. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share. On average, sell-side analysts expect that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.40%. Charles Schwab’s payout ratio is currently 41.49%.

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.