Varma Mutual Pension Insurance Co Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

Varma Mutual Pension Insurance Co cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,381 shares of the financial services provider’s stock after selling 25,619 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Charles Schwab were worth $23,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Country Trust Bank acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $26,000. Fortitude Family Office LLC increased its holdings in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the period. American Capital Advisory LLC purchased a new position in shares of Charles Schwab in the second quarter worth about $27,000. CGC Financial Services LLC acquired a new stake in shares of Charles Schwab during the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Charles Schwab in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, insider Bernard J. Clark sold 8,164 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at $9,124,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Bernard J. Clark sold 8,164 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at $9,124,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the transaction, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. The disclosure for this sale can be found here. Insiders sold 107,800 shares of company stock worth $7,145,364 over the last three months. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW traded down $0.79 during trading on Friday, hitting $62.90. The company had a trading volume of 8,331,675 shares, compared to its average volume of 7,662,919. The firm has a market capitalization of $111.79 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.20 and a beta of 0.97. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The stock has a fifty day simple moving average of $66.44 and a two-hundred day simple moving average of $70.10. 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 announced 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 analysts’ expectations of $4.68 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. On average, research analysts expect that The Charles Schwab Co. will post 3.05 earnings per share 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SCHW. UBS Group decreased their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. 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. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $64.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a report on Thursday, August 22nd. Finally, Morgan Stanley decreased their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.00.

Charles Schwab 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.