Primecap Management Co. CA Sells 13,365 Shares of The Charles Schwab Co. (NYSE:SCHW)

Primecap Management Co. CA reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,058,735 shares of the financial services provider’s stock after selling 13,365 shares during the quarter. Primecap Management Co. CA owned about 0.06% of Charles Schwab worth $78,018,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Country Trust Bank purchased a new stake in Charles Schwab during the 2nd quarter valued at $26,000. Fortitude Family Office LLC raised its holdings in Charles Schwab by 97.5% during 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 during the period. American Capital Advisory LLC purchased a new stake in Charles Schwab during the 2nd quarter valued at $27,000. CGC Financial Services LLC purchased a new stake in Charles Schwab during the 2nd quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Charles Schwab during the 2nd quarter valued at $29,000. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at $1,355,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now owns 18,069 shares in the company, valued at $1,355,175. The sale 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 business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the sale, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The disclosure for this sale can be found here. Insiders have sold 99,636 shares of company stock worth $6,533,064 over the last quarter. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on SCHW shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $80.00 price target on shares of Charles Schwab in a report on Thursday, August 22nd. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $80.00 to $64.00 in a report on Monday, July 29th. Wells Fargo & Company began coverage on Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. Barclays decreased their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. Finally, Morgan Stanley decreased their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $73.75.

Charles Schwab Stock Performance

SCHW stock opened at $63.84 on Wednesday. The business has a 50-day moving average price of $64.93 and a 200 day moving average price of $70.03. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $113.46 billion, a P/E ratio of 26.71, a PEG ratio of 1.16 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.57%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

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.