The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 995,776 shares of the financial services provider’s stock after selling 65,768 shares during the period. Los Angeles Capital Management LLC owned approximately 0.06% of Charles Schwab worth $73,379,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Nelson Capital Management LLC grew its holdings in Charles Schwab by 0.4% during the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 141 shares in the last quarter. Abbrea Capital LLC raised its holdings in shares of Charles Schwab by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares during the period. Ironwood Financial llc boosted its stake in Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 160 shares during the period. Ascent Wealth Partners LLC grew its stake in Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after buying an additional 164 shares during the last quarter. Finally, Sculati Wealth Management LLC lifted its stake in Charles Schwab by 0.4% in the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after buying an additional 165 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Shares of SCHW stock traded down $0.79 during mid-day trading on Friday, reaching $62.90. The stock had a trading volume of 8,331,675 shares, compared to its average volume of 8,023,185. The firm has a market cap of $111.86 billion, a PE ratio of 26.32, a P/E/G ratio of 1.22 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The firm’s 50 day simple moving average is $66.44 and its 200 day simple moving average is $70.06.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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 return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given 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 1.59%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction that occurred 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 directly owns 121,666 shares in the company, valued at $9,124,950. The disclosure for this sale can be found here. Insiders have sold a total of 107,800 shares of company stock valued at $7,145,364 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SCHW shares. Bank of America dropped their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group increased their price objective on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, UBS Group lowered their price target 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.00.

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.