Hartford Investment Management Co. Reduces Holdings in The Charles Schwab Co. (NYSE:SCHW)

Hartford Investment Management Co. reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 94,010 shares of the financial services provider’s stock after selling 1,643 shares during the period. Hartford Investment Management Co.’s holdings in Charles Schwab were worth $6,093,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Greenleaf Trust raised its stake in Charles Schwab by 63.8% during the 3rd quarter. Greenleaf Trust now owns 55,558 shares of the financial services provider’s stock valued at $3,601,000 after acquiring an additional 21,646 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Charles Schwab by 470.5% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 18,508 shares of the financial services provider’s stock worth $1,200,000 after acquiring an additional 15,264 shares during the period. Lecap Asset Management Ltd. raised its holdings in Charles Schwab by 73.4% during the third quarter. Lecap Asset Management Ltd. now owns 14,630 shares of the financial services provider’s stock worth $948,000 after purchasing an additional 6,191 shares in the last quarter. Marietta Wealth Management LLC lifted its position in Charles Schwab by 5.5% in the third quarter. Marietta Wealth Management LLC now owns 67,947 shares of the financial services provider’s stock valued at $4,404,000 after purchasing an additional 3,551 shares during the period. Finally, GAM Holding AG boosted its holdings in Charles Schwab by 58.6% in the 3rd quarter. GAM Holding AG now owns 216,756 shares of the financial services provider’s stock valued at $14,048,000 after purchasing an additional 80,045 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.3 %

Shares of SCHW traded up $0.19 during mid-day trading on Wednesday, reaching $71.10. The company had a trading volume of 345,268 shares, compared to its average volume of 8,054,439. The stock has a market cap of $126.45 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.65 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 firm has a fifty day simple moving average of $65.32 and a 200-day simple moving average of $69.48. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results 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 company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on SCHW. UBS Group reduced their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JMP Securities boosted their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. The Goldman Sachs Group increased their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Piper Sandler upped their price target on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.59.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the sale, the director now owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on 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 completion of 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 disclosure for this sale can be found here. In the last quarter, insiders sold 182,001 shares of company stock valued at $12,512,592. 6.60% of the stock is currently owned by corporate 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.