Clearbridge Investments LLC Sells 96,780 Shares of The Charles Schwab Co. (NYSE:SCHW)

Clearbridge Investments LLC lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,192,696 shares of the financial services provider’s stock after selling 96,780 shares during the period. Clearbridge Investments LLC owned about 0.18% of Charles Schwab worth $230,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tributary Capital Management LLC bought a new stake in shares of Charles Schwab during the 1st quarter valued at about $31,000. Frazier Financial Advisors LLC purchased a new position in shares of Charles Schwab during the 4th quarter worth approximately $30,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Charles Schwab in the 4th quarter valued at approximately $31,000. Glass Jacobson Investment Advisors llc boosted its position in shares of Charles Schwab by 81.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 268 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in Charles Schwab in the fourth quarter worth $42,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.39 during trading on Tuesday, hitting $65.14. 14,125,191 shares of the company’s stock traded hands, compared to its average volume of 7,925,892. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The business has a 50-day simple moving average of $72.87 and a 200-day simple moving average of $70.08. The stock has a market capitalization of $115.77 billion, a P/E ratio of 27.26, a PEG ratio of 1.16 and a beta of 0.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion during 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%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, analysts forecast that The Charles Schwab Co. will post 3.09 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. Charles Schwab’s payout ratio is 41.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. dropped their price objective on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Bank of America decreased their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. TD Cowen reissued a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Citigroup raised their price objective on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $75.20.

Insider Transactions at Charles Schwab

In other news, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Richard A. Wurster purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the transaction, the president now directly owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Insiders have sold a total of 466,470 shares of company stock worth $34,963,443 in the last ninety days. Insiders own 6.60% of the company’s stock.

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.