The Charles Schwab Co. (NYSE:SCHW) Stake Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 12.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 26,967,993 shares of the financial services provider’s stock after selling 3,785,378 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Charles Schwab were worth $1,987,271,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Country Trust Bank acquired a new stake in Charles Schwab during the second quarter valued at $26,000. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter valued at about $27,000. Fortitude Family Office LLC grew its stake in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares in the last quarter. CGC Financial Services LLC acquired a new position in Charles Schwab in the second quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Charles Schwab during the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.6 %

Charles Schwab stock opened at $62.12 on Monday. The business has a 50 day moving average price of $65.33 and a two-hundred day moving average price of $70.07. 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 12 month low of $48.66 and a 12 month high of $79.49. The stock has a market cap of $110.48 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS 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 business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the company posted $0.75 earnings per share. Charles Schwab’s revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders 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 dividend yield of 1.61%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now owns 562,129 shares in the company, valued at approximately $36,594,597.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Richard A. Wurster purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the acquisition, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. Insiders have sold a total of 99,636 shares of company stock valued at $6,533,064 over the last quarter. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several analyst reports. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, Wells Fargo & Company initiated coverage on shares of Charles Schwab in a research report on Thursday. They issued an “equal weight” rating and a $70.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and an average target price of $73.75.

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.