The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 74.1% during the third quarter, Holdings Channel reports. The firm owned 10,155 shares of the financial services provider’s stock after selling 29,048 shares during the quarter. Martingale Asset Management L P’s holdings in Charles Schwab were worth $658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Financial Counselors Inc. grew its position in Charles Schwab by 5.5% in the 3rd quarter. Financial Counselors Inc. now owns 275,976 shares of the financial services provider’s stock valued at $17,886,000 after acquiring an additional 14,495 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Charles Schwab by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,142,602 shares of the financial services provider’s stock worth $592,532,000 after purchasing an additional 331,846 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Charles Schwab by 2.6% in the third quarter. Public Sector Pension Investment Board now owns 259,767 shares of the financial services provider’s stock valued at $16,835,000 after purchasing an additional 6,585 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Charles Schwab by 3.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 541,079 shares of the financial services provider’s stock worth $35,067,000 after buying an additional 20,066 shares during the period. Finally, First Commonwealth Financial Corp PA lifted its holdings in Charles Schwab by 2.2% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 12,459 shares of the financial services provider’s stock worth $807,000 after buying an additional 269 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SCHW. Piper Sandler boosted their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Cowen lifted their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Barclays upped their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $75.56.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $81.40 on Tuesday. The Charles Schwab Co. has a 12 month low of $59.67 and a 12 month high of $83.35. The firm has a market capitalization of $144.86 billion, a P/E ratio of 31.79, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company’s fifty day moving average price is $72.37 and its 200 day moving average price is $69.97.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,968 shares of company stock valued at $9,419,271 in the last ninety days. 6.60% of the stock is currently owned by company 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.