M&G Plc Sells 18,525 Shares of The Charles Schwab Co. (NYSE:SCHW)

M&G Plc cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 11.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,529 shares of the financial services provider’s stock after selling 18,525 shares during the period. M&G Plc’s holdings in Charles Schwab were worth $10,399,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Country Trust Bank bought a new position in shares of Charles Schwab in the 2nd quarter worth $26,000. Fortitude Family Office LLC lifted its holdings in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in Charles Schwab during the fourth quarter worth about $30,000. Wetzel Investment Advisors Inc. bought a new position in Charles Schwab during the fourth quarter worth about $31,000. Finally, Tributary Capital Management LLC bought a new position in Charles Schwab during the first quarter worth about $31,000. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SCHW has been the topic of several recent analyst reports. TD Cowen reiterated a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. StockNews.com lowered Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Deutsche Bank Aktiengesellschaft cut their price target on Charles Schwab from $84.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Barclays cut their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average target price of $74.27.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $78.41, for a total transaction of $705,690.00. Following the sale, the director now owns 574,257 shares of the company’s stock, valued at $45,027,491.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the completion of the transaction, the director now directly owns 574,257 shares in the company, valued at approximately $45,027,491.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bernard J. Clark sold 77,431 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,911 shares of company stock valued at $12,541,978. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Performance

SCHW opened at $62.49 on Wednesday. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The firm has a market capitalization of $111.13 billion, a PE ratio of 26.15, a PEG ratio of 1.18 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The business’s 50-day simple moving average is $69.67 and its 200 day simple moving average is $69.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

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.