Oppenheimer & Co. Inc. Lowers Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Oppenheimer & Co. Inc. trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150,742 shares of the financial services provider’s stock after selling 13,339 shares during the period. Oppenheimer & Co. Inc.’s holdings in Charles Schwab were worth $10,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Guardian Asset Advisors LLC boosted its position in Charles Schwab by 2.0% during the 1st quarter. Guardian Asset Advisors LLC now owns 19,116 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 376 shares during the period. Obermeyer Wood Investment Counsel Lllp lifted its holdings in Charles Schwab by 4.7% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 4,972 shares of the financial services provider’s stock worth $360,000 after buying an additional 224 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Charles Schwab by 7.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 104,554 shares of the financial services provider’s stock worth $7,563,000 after buying an additional 6,923 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Charles Schwab by 3.9% in the 1st quarter. Brooklyn Investment Group now owns 9,112 shares of the financial services provider’s stock worth $659,000 after buying an additional 339 shares in the last quarter. Finally, Karpas Strategies LLC lifted its holdings in Charles Schwab by 0.4% in the 1st quarter. Karpas Strategies LLC now owns 251,102 shares of the financial services provider’s stock worth $18,165,000 after buying an additional 978 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

SCHW stock traded down $0.70 on Friday, hitting $75.38. 6,543,509 shares of the company’s stock traded hands, compared to its average volume of 5,201,101. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The stock has a market cap of $133.97 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 1.17 and a beta of 0.99. The stock has a fifty day moving average of $74.30 and a 200-day moving average of $70.18. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. On average, analysts forecast that The Charles Schwab Co. will post 3.19 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. Charles Schwab’s payout ratio is 41.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SCHW shares. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research note on Tuesday, May 28th. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Morgan Stanley cut their target price on shares of Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday. Jefferies Financial Group upped their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, TD Cowen cut their target price on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $77.75.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the transaction, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $41,366,925.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were 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 owns 121,666 shares in the company, valued at $9,124,950. The disclosure for this sale can be found here. Insiders sold a total of 658,663 shares of company stock worth $48,997,146 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

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.