Skandinaviska Enskilda Banken AB publ Reduces Holdings in The Charles Schwab Co. (NYSE:SCHW)

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 291,978 shares of the financial services provider’s stock after selling 26,887 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in The Charles Schwab were worth $21,259,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Princeton Portfolio Strategies Group LLC grew its stake in shares of The Charles Schwab by 12.1% during the first quarter. Princeton Portfolio Strategies Group LLC now owns 44,264 shares of the financial services provider’s stock worth $2,885,000 after acquiring an additional 4,770 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of The Charles Schwab by 30.2% during the first quarter. UBS Asset Management Americas Inc. now owns 7,168,205 shares of the financial services provider’s stock worth $467,224,000 after acquiring an additional 1,664,240 shares during the last quarter. National Pension Service grew its stake in shares of The Charles Schwab by 5.6% during the first quarter. National Pension Service now owns 2,039,597 shares of the financial services provider’s stock worth $132,941,000 after acquiring an additional 107,945 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of The Charles Schwab by 1.1% during the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 181,281 shares of the financial services provider’s stock worth $11,816,000 after acquiring an additional 1,991 shares during the last quarter. Finally, MUFG Americas Holdings Corp lifted its holdings in shares of The Charles Schwab by 2.5% during the second quarter. MUFG Americas Holdings Corp now owns 265,155 shares of the financial services provider’s stock worth $19,305,000 after purchasing an additional 6,455 shares during the period. Institutional investors and hedge funds own 71.66% of the company’s stock.

The Charles Schwab stock opened at $69.73 on Wednesday. The stock has a market capitalization of $126.01 billion, a PE ratio of 29.42 and a beta of 1.05. The Charles Schwab Co. has a 12 month low of $33.79 and a 12 month high of $76.37. The business has a 50 day simple moving average of $71.08 and a 200-day simple moving average of $69.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.36 and a quick ratio of 0.36.

The Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, July 15th. The financial services provider reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.46 billion. The Charles Schwab had a net margin of 28.88% and a return on equity of 12.89%. The firm’s quarterly revenue was up 84.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 earnings per share. On average, equities research analysts anticipate that The Charles Schwab Co. will post 3.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, August 12th. The Charles Schwab’s dividend payout ratio (DPR) is presently 29.39%.

SCHW has been the subject of a number of research reports. The Goldman Sachs Group downgraded The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 target price for the company. in a report on Thursday, July 8th. JMP Securities lifted their target price on The Charles Schwab from $83.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday, July 23rd. Citigroup decreased their target price on The Charles Schwab from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, July 19th. Wells Fargo & Company lifted their target price on The Charles Schwab from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, June 2nd. Finally, lifted their target price on The Charles Schwab from $93.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, July 12th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $81.41.

In related news, Chairman Charles R. Schwab sold 81,400 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $71.21, for a total transaction of $5,796,494.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 21,691 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $71.80, for a total value of $1,557,413.80. The disclosure for this sale can be found here. Insiders sold 541,260 shares of company stock valued at $39,392,289 over the last 90 days. Company insiders own 7.50% of the company’s stock.

The Charles Schwab Company Profile

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

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Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

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