Dai ichi Life Insurance Company Ltd Cuts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Dai ichi Life Insurance Company Ltd decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 19.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,425 shares of the financial services provider’s stock after selling 33,701 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Charles Schwab were worth $10,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Charles Schwab by 5.9% during the 4th quarter. International Assets Investment Management LLC now owns 10,994 shares of the financial services provider’s stock worth $756,000 after buying an additional 612 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in Charles Schwab during the fourth quarter worth approximately $466,000. Avantax Advisory Services Inc. lifted its position in shares of Charles Schwab by 37.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 29,258 shares of the financial services provider’s stock worth $2,013,000 after buying an additional 8,022 shares during the last quarter. Haverford Trust Co boosted its holdings in shares of Charles Schwab by 21.4% in the 4th quarter. Haverford Trust Co now owns 5,096 shares of the financial services provider’s stock valued at $351,000 after buying an additional 899 shares in the last quarter. Finally, Financial Advocates Investment Management acquired a new stake in Charles Schwab during the 4th quarter worth $296,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on SCHW shares. Wells Fargo & Company began coverage on shares of Charles Schwab in a report on Thursday. They issued an “equal weight” rating and a $70.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lowered their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley cut their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Finally, Jefferies Financial Group upped their price objective on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average target price of $73.75.

Charles Schwab Stock Performance

NYSE SCHW opened at $62.12 on Friday. The business’s 50-day simple moving average is $65.33 and its 200-day simple moving average is $70.00. The firm has a market capitalization of $110.48 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

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

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.61%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Activity

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the transaction, the director now owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the transaction, the director now directly owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 99,636 shares of company stock worth $6,533,064. 6.60% of the stock is currently owned by corporate insiders.

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.