Fmr LLC Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Fmr LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,725,073 shares of the financial services provider’s stock after selling 335,020 shares during the period. Fmr LLC owned about 0.32% of Charles Schwab worth $371,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Charles Schwab in the third quarter valued at about $25,000. Country Trust Bank purchased a new stake in Charles Schwab in the 2nd quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new position in Charles Schwab during the 2nd quarter worth approximately $27,000. Finally, Fortitude Family Office LLC raised its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,968 shares of company stock valued at $9,419,271. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

SCHW opened at $82.76 on Friday. The Charles Schwab Co. has a 1 year low of $59.61 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company’s 50 day simple moving average is $72.37 and its 200 day simple moving average is $70.03. The stock has a market capitalization of $147.28 billion, a PE ratio of 32.33, a P/E/G ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Piper Sandler increased 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. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $74.18.

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.