The Charles Schwab Co. (NYSE:SCHW) Stock Holdings Lessened by Townsquare Capital LLC

Townsquare Capital LLC cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 60,513 shares of the financial services provider’s stock after selling 3,792 shares during the period. Townsquare Capital LLC’s holdings in Charles Schwab were worth $3,922,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SCHW. Massachusetts Financial Services Co. MA boosted its holdings in shares of Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the period. Fisher Asset Management LLC boosted its stake in Charles Schwab by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after purchasing an additional 493,264 shares during the period. Legal & General Group Plc grew its position in Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares during the last quarter. Allen Investment Management LLC increased its stake in shares of Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after purchasing an additional 251,485 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Charles Schwab by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,893,522 shares of the financial services provider’s stock valued at $511,579,000 after buying an additional 66,022 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Performance

SCHW opened at $82.79 on Friday. The business has a fifty day simple moving average of $72.37 and a 200-day simple moving average of $70.08. The firm has a market cap of $147.34 billion, a PE ratio of 32.34, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a fifty-two week low of $59.61 and a fifty-two week high of $83.35.

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

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SCHW. Piper Sandler increased their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.18.

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.