Axxcess Wealth Management LLC reduced its position in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 34.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,722 shares of the financial services provider’s stock after selling 3,991 shares during the period. Axxcess Wealth Management LLC’s holdings in Charles Schwab were worth $500,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&G Plc acquired a new stake in shares of Charles Schwab in the 1st quarter valued at about $11,452,000. Teewinot Capital Advisers L.L.C. raised its stake in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after acquiring an additional 64,041 shares during the period. Iowa State Bank raised its stake in Charles Schwab by 37.9% during the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after acquiring an additional 7,829 shares during the period. Radnor Capital Management LLC acquired a new stake in Charles Schwab during the third quarter worth about $6,081,000. Finally, Orion Portfolio Solutions LLC raised its stake in Charles Schwab by 8.3% during the first quarter. Orion Portfolio Solutions LLC now owns 134,897 shares of the financial services provider’s stock worth $9,758,000 after acquiring an additional 10,393 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’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 sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’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 transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,645 shares of company stock worth $7,440,627. Corporate insiders own 6.60% of the company’s stock.
Charles Schwab Trading Up 0.1 %
Charles Schwab (NYSE:SCHW – Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.
Analyst Ratings Changes
Several research firms recently weighed in on SCHW. TD Cowen reiterated a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Piper Sandler upped their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Citigroup decreased their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $74.18.
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.
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