1832 Asset Management L.P. Sells 456 Shares of The Charles Schwab Co. (NYSE:SCHW)

1832 Asset Management L.P. trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,681 shares of the financial services provider’s stock after selling 456 shares during the quarter. 1832 Asset Management L.P.’s holdings in Charles Schwab were worth $4,607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC bought a new position in Charles Schwab in the 4th quarter valued at about $42,000. Ritholtz Wealth Management raised its holdings in Charles Schwab by 15.0% in the 4th quarter. Ritholtz Wealth Management now owns 15,642 shares of the financial services provider’s stock valued at $1,076,000 after acquiring an additional 2,046 shares during the period. Blue Trust Inc. raised its holdings in Charles Schwab by 11.1% in the 4th quarter. Blue Trust Inc. now owns 6,920 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 689 shares during the period. Global Retirement Partners LLC raised its holdings in Charles Schwab by 9.1% in the 4th quarter. Global Retirement Partners LLC now owns 20,603 shares of the financial services provider’s stock valued at $1,325,000 after acquiring an additional 1,718 shares during the period. Finally, Hennessy Advisors Inc. raised its holdings in Charles Schwab by 55.6% in the 4th quarter. Hennessy Advisors Inc. now owns 14,000 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 5,000 shares during the period. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SCHW. StockNews.com cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Morgan Stanley lowered 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 report on Thursday, July 11th. UBS Group lowered their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $76.00 to $84.00 in a report on Monday, July 8th. Finally, Citigroup raised their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.20.

Charles Schwab Price Performance

Charles Schwab stock traded up $0.36 during mid-day trading on Friday, reaching $66.60. The company had a trading volume of 11,168,799 shares, compared to its average volume of 11,492,999. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The company has a market cap of $118.37 billion, a P/E ratio of 27.87, a P/E/G ratio of 1.24 and a beta of 0.99. The business has a fifty day simple moving average of $72.09 and a 200 day simple moving average of $70.03.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter last year, the business posted $0.75 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts predict that The Charles Schwab Co. will post 3.09 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Bernard J. Clark sold 77,431 shares of Charles Schwab stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the transaction, the insider now owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now directly owns 567,057 shares in the company, valued at approximately $35,134,851.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 410,084 shares of company stock valued at $30,616,734. Insiders own 6.60% of the company’s stock.

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.