Northwestern Mutual Wealth Management Co. Lowers Stake in The Charles Schwab Co. (NYSE:SCHW)

Northwestern Mutual Wealth Management Co. decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 27.4% in the second quarter, HoldingsChannel.com reports. The firm owned 113,495 shares of the financial services provider’s stock after selling 42,753 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Charles Schwab were worth $8,363,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SCHW. Holderness Investments Co. purchased a new position in shares of Charles Schwab during the 4th quarter valued at approximately $207,000. Tower Research Capital LLC TRC boosted its holdings in Charles Schwab by 215.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 237,770 shares of the financial services provider’s stock worth $16,359,000 after buying an additional 162,405 shares during the last quarter. Morningstar Investment Management LLC purchased a new stake in Charles Schwab during the 4th quarter worth approximately $1,301,000. Oppenheimer & Co. Inc. raised its holdings in shares of Charles Schwab by 1.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 164,081 shares of the financial services provider’s stock valued at $11,289,000 after acquiring an additional 2,905 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its position in shares of Charles Schwab by 6.5% in the fourth quarter. Cetera Advisor Networks LLC now owns 231,664 shares of the financial services provider’s stock valued at $15,939,000 after acquiring an additional 14,083 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SCHW shares. The Goldman Sachs Group reduced their price objective on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Barclays reduced their target price on shares of 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. TD Cowen restated 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. UBS Group dropped 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. Finally, Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.31.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. In the last quarter, insiders sold 99,636 shares of company stock worth $6,457,104. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $63.91 on Wednesday. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $113.66 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. The business has a fifty day moving average of $64.08 and a two-hundred day moving average of $69.82.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the company earned $0.75 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Charles Schwab’s payout ratio is currently 41.84%.

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.