United Services Automobile Association Has $3.12 Million Position in The Charles Schwab Co. (NYSE:SCHW)

United Services Automobile Association trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,304 shares of the financial services provider’s stock after selling 1,858 shares during the period. United Services Automobile Association’s holdings in Charles Schwab were worth $3,117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. Morningstar Investment Services LLC lifted its position in Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after buying an additional 2,322,156 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Charles Schwab by 24.3% during the 4th quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after purchasing an additional 857,734 shares in the last quarter. M&G Plc acquired a new stake in Charles Schwab during the 1st quarter worth approximately $11,452,000. Franklin Resources Inc. lifted its stake in Charles Schwab by 19.7% in the fourth quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after buying an additional 1,558,975 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after buying an additional 17,925 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a report on Thursday, August 22nd. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $80.00 to $64.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. JMP Securities cut their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 23rd. Finally, Bank of America decreased their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.00.

Charles Schwab Price Performance

Charles Schwab stock opened at $63.01 on Tuesday. The company has a market capitalization of $112.06 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.18 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The stock’s 50 day moving average is $66.23 and its 200-day moving average is $70.13.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.59%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, insider Bernard J. Clark sold 8,164 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total transaction of $612,300.00. Following the completion of the transaction, the insider now owns 121,666 shares of the company’s stock, valued at $9,124,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares in the company, valued at $35,134,851.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,800 shares of company stock valued at $7,145,364. 6.60% of the stock is currently owned by company insiders.

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.