Sentry Investment Management LLC Decreases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Sentry Investment Management LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 17.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,966 shares of the financial services provider’s stock after selling 2,656 shares during the period. Sentry Investment Management LLC’s holdings in Charles Schwab were worth $955,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. LPL Financial LLC raised its position in Charles Schwab by 8.9% during the second quarter. LPL Financial LLC now owns 1,118,318 shares of the financial services provider’s stock worth $82,409,000 after acquiring an additional 91,267 shares during the last quarter. Biltmore Family Office LLC acquired a new stake in Charles Schwab during the 2nd quarter valued at $202,000. Kinsale Capital Group Inc. raised its holdings in shares of Charles Schwab by 23.9% in the second quarter. Kinsale Capital Group Inc. now owns 80,825 shares of the financial services provider’s stock worth $5,956,000 after acquiring an additional 15,612 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Charles Schwab by 7.8% during the 2nd quarter. Coldstream Capital Management Inc. now owns 18,624 shares of the financial services provider’s stock worth $1,372,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Charles Schwab by 4.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 198,450 shares of the financial services provider’s stock valued at $14,624,000 after purchasing an additional 7,853 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Walter W. Bettinger bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the transaction, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The disclosure for this purchase can be found here. Insiders have sold a total of 99,636 shares of company stock worth $6,533,064 over the last quarter. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCHW. UBS Group decreased their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Bank of America cut their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. dropped their target price on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, TD Cowen reaffirmed 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.00.

Charles Schwab Trading Up 0.1 %

Shares of SCHW opened at $63.07 on Wednesday. The company has a market capitalization of $112.17 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.18 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a 50-day moving average price of $66.01 and a 200 day moving average price of $70.12. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49.

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

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 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.