The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,167 shares of the financial services provider’s stock after selling 429 shares during the quarter. Charles Schwab accounts for approximately 1.8% of Spectrum Asset Management Inc. NB CA’s investment portfolio, making the stock its 19th biggest holding. Spectrum Asset Management Inc. NB CA’s holdings in Charles Schwab were worth $4,223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Country Trust Bank acquired a new stake in Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC increased its holdings in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new stake in shares of Charles Schwab during the 2nd quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Charles Schwab during the 2nd quarter valued at approximately $29,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated 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 completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,001 shares of company stock valued at $12,512,592. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 1.1 %

Shares of Charles Schwab stock opened at $71.71 on Thursday. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. 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 firm has a market capitalization of $127.53 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.65 and a beta of 0.97. The stock has a 50 day moving average of $65.45 and a 200 day moving average of $69.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the company earned $0.77 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Piper Sandler lifted 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. Jefferies Financial Group reduced their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a report on Friday, October 4th. Citigroup lowered their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Finally, Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and a consensus target price of $73.59.

About Charles Schwab

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.