The Charles Schwab Corporation $SCHW Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,889,739 shares of the financial services provider’s stock after selling 536,022 shares during the period. Charles Schwab accounts for approximately 0.9% of Lazard Asset Management LLC’s portfolio, making the stock its 25th largest position. Lazard Asset Management LLC owned 0.38% of Charles Schwab worth $628,617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SCHW. Bryn Mawr Trust Advisors LLC increased its holdings in shares of Charles Schwab by 2.0% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after acquiring an additional 107 shares during the last quarter. Nicolet Bankshares Inc. boosted its holdings in Charles Schwab by 0.8% in the second quarter. Nicolet Bankshares Inc. now owns 13,049 shares of the financial services provider’s stock valued at $1,191,000 after purchasing an additional 107 shares in the last quarter. Pine Haven Investment Counsel Inc increased its stake in Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 110 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in Charles Schwab by 0.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,330 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 110 shares during the last quarter. Finally, Principle Wealth Partners LLC raised its holdings in Charles Schwab by 2.0% during the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 113 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on SCHW. Truist Financial increased their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Morgan Stanley raised their price objective on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. BMO Capital Markets started coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price for the company. JPMorgan Chase & Co. upped their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Bank of America lifted their price target on Charles Schwab from $88.00 to $91.00 and gave the stock an “underperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.37.

Charles Schwab Stock Down 0.4%

Charles Schwab stock opened at $96.63 on Friday. The stock has a 50 day moving average of $93.86 and a two-hundred day moving average of $93.40. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The stock has a market capitalization of $171.71 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

About Charles Schwab

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.