The Charles Schwab Co. (NYSE:SCHW) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 63.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,632 shares of the financial services provider’s stock after selling 61,044 shares during the period. QRG Capital Management Inc.’s holdings in Charles Schwab were worth $2,626,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Charles Schwab by 5.9% in the 4th quarter. International Assets Investment Management LLC now owns 10,994 shares of the financial services provider’s stock valued at $756,000 after acquiring an additional 612 shares during the period. RFG Advisory LLC increased its position in shares of Charles Schwab by 2.7% in the 4th quarter. RFG Advisory LLC now owns 8,225 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 216 shares during the period. Cerity Partners LLC increased its position in shares of Charles Schwab by 9.8% in the 4th quarter. Cerity Partners LLC now owns 1,000,017 shares of the financial services provider’s stock valued at $68,801,000 after acquiring an additional 88,982 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Charles Schwab in the 4th quarter valued at $191,000. Finally, Costello Asset Management INC increased its position in shares of Charles Schwab by 916.7% in the 4th quarter. Costello Asset Management INC now owns 610 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 550 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SCHW. JPMorgan Chase & Co. cut their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Jefferies Financial Group increased their price target on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. TD Cowen reaffirmed a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Morgan Stanley cut their price target on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, UBS Group cut their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $74.27.

Charles Schwab Price Performance

Shares of SCHW stock traded down $0.12 during mid-day trading on Friday, hitting $62.41. 4,255,160 shares of the stock were exchanged, compared to its average volume of 13,392,225. The firm has a fifty day moving average of $70.07 and a 200 day moving average of $69.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a market cap of $110.92 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly 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. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. Research analysts anticipate that The Charles Schwab Co. will post 3.07 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Activity at Charles Schwab

In related news, Chairman Charles R. Schwab sold 65,360 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $76.89, for a total value of $5,025,530.40. Following the transaction, the chairman now directly owns 60,741,536 shares of the company’s stock, valued at approximately $4,670,416,703.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Charles Schwab news, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were acquired at an average cost of $62.05 per share, with a total value of $620,500.00. Following the purchase, the president now directly owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 65,360 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $76.89, for a total transaction of $5,025,530.40. Following the completion of the transaction, the chairman now directly owns 60,741,536 shares in the company, valued at $4,670,416,703.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 247,271 shares of company stock valued at $17,567,508. 6.60% of the stock is owned by corporate insiders.

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.