Focus Financial Network Inc. Trims Position in The Charles Schwab Co. (NYSE:SCHW)

Focus Financial Network Inc. lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,916 shares of the financial services provider’s stock after selling 1,028 shares during the period. Focus Financial Network Inc.’s holdings in Charles Schwab were worth $1,291,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SCHW. Norden Group LLC acquired a new position in shares of Charles Schwab during the 1st quarter valued at about $1,256,000. J.W. Cole Advisors Inc. boosted its holdings in shares of Charles Schwab by 17.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 5,240 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 771 shares during the last quarter. Mission Wealth Management LP purchased a new stake in shares of Charles Schwab during the 1st quarter valued at $521,000. Janney Montgomery Scott LLC increased its holdings in shares of Charles Schwab by 7.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 630,167 shares of the financial services provider’s stock worth $45,586,000 after buying an additional 45,380 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in Charles Schwab by 9.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 38,279 shares of the financial services provider’s stock valued at $2,769,000 after acquiring an additional 3,285 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Price Performance

SCHW stock opened at $70.94 on Friday. The stock’s 50 day moving average is $66.39 and its two-hundred day moving average is $69.53. The Charles Schwab Co. has a 52-week low of $53.49 and a 52-week high of $79.49. The company has a market capitalization of $126.16 billion, a PE ratio of 27.71, a P/E/G ratio of 1.63 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.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. 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. Analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SCHW. Barclays upped their price target on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler lifted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.94.

Insider Activity at Charles Schwab

In other Charles Schwab news, 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 transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,465 shares of company stock valued at $8,050,109 over the last three months. 6.60% of the stock is owned by insiders.

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.