Trust Point Inc. Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Trust Point Inc. decreased its stake in The Charles Schwab Co. (NYSE:SCHW) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,367 shares of the financial services provider’s stock after selling 379 shares during the period. Trust Point Inc.’s holdings in Charles Schwab were worth $413,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Aaron Wealth Advisors LLC increased its position in Charles Schwab by 4.8% during the third quarter. Aaron Wealth Advisors LLC now owns 15,055 shares of the financial services provider’s stock worth $976,000 after buying an additional 694 shares during the period. Claro Advisors LLC boosted its holdings in shares of Charles Schwab by 5.9% in the third quarter. Claro Advisors LLC now owns 5,476 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 303 shares during the period. V Square Quantitative Management LLC grew its position in shares of Charles Schwab by 22.3% during the third quarter. V Square Quantitative Management LLC now owns 23,710 shares of the financial services provider’s stock worth $1,537,000 after acquiring an additional 4,322 shares during the last quarter. Kozak & Associates Inc. increased its holdings in shares of Charles Schwab by 1.3% in the 3rd quarter. Kozak & Associates Inc. now owns 125,967 shares of the financial services provider’s stock valued at $8,164,000 after acquiring an additional 1,582 shares during the period. Finally, LexAurum Advisors LLC raised its position in Charles Schwab by 11.0% in the 3rd quarter. LexAurum Advisors LLC now owns 13,472 shares of the financial services provider’s stock valued at $873,000 after purchasing an additional 1,330 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 182,001 shares of company stock worth $12,512,592. 6.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SCHW shares. Citigroup dropped their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Cowen boosted their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. JMP Securities increased their price objective on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday. The Goldman Sachs Group boosted their target price on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Piper Sandler upped their price target on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.59.

Charles Schwab Price Performance

SCHW stock opened at $71.36 on Friday. The firm has a 50 day moving average of $64.97 and a 200-day moving average of $69.51. The company has a market cap of $126.91 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 1.47 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 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 quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. As a group, equities analysts expect that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab 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.