Advisors Asset Management Inc. Sells 974 Shares of The Charles Schwab Co. (NYSE:SCHW)

Advisors Asset Management Inc. lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,823 shares of the financial services provider’s stock after selling 974 shares during the quarter. Advisors Asset Management Inc.’s holdings in Charles Schwab were worth $1,220,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SCHW. Darsana Capital Partners LP boosted its stake in shares of Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after buying an additional 2,000,000 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after buying an additional 1,644,931 shares in the last quarter. Boston Partners grew its position in shares of Charles Schwab by 21.2% in the first quarter. Boston Partners now owns 5,395,138 shares of the financial services provider’s stock valued at $390,856,000 after purchasing an additional 944,048 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Charles Schwab by 7,559.9% in the third quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider’s stock worth $57,667,000 after buying an additional 878,163 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Charles Schwab by 138.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,138,269 shares of the financial services provider’s stock worth $73,771,000 after purchasing an additional 659,996 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of several recent analyst reports. Barclays raised their price target on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their target price on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup dropped their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Piper Sandler upped their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Cowen boosted their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Two equities 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.18.

Insiders Place Their Bets

In other news, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,929 shares of company stock worth $8,196,624. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $81.77 on Tuesday. 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 stock has a market capitalization of $145.52 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The stock’s 50 day moving average price is $70.91 and its 200-day moving average price is $69.81. The Charles Schwab Co. has a 52-week low of $55.59 and a 52-week high of $82.50.

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

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.22%. Charles Schwab’s payout ratio is 39.06%.

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.