The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Grassi Investment Management

Grassi Investment Management reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 1.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 119,618 shares of the financial services provider’s stock after selling 1,725 shares during the quarter. Grassi Investment Management’s holdings in Charles Schwab were worth $7,752,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. M&G Plc acquired a new position in Charles Schwab in the 1st quarter valued at $11,452,000. Teewinot Capital Advisers L.L.C. grew its stake in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Charles Schwab by 10.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after purchasing an additional 17,925 shares during the period. Iowa State Bank grew its stake in shares of Charles Schwab by 37.9% during the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares during the period. Finally, Dudley & Shanley Inc. acquired a new position in shares of Charles Schwab during the 1st quarter worth $13,650,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction dated Wednesday, July 31st. The shares were 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 in the company, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Paul V. Woolway sold 1,150 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,001 shares of company stock worth $12,512,592 in the last three months. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW opened at $71.71 on Thursday. The firm has a market cap of $127.53 billion, a price-to-earnings ratio of 28.01, 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 company’s 50-day moving average is $65.45 and its two-hundred day moving average is $69.50. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company’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 EPS. Research analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s payout ratio is currently 39.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. UBS Group lowered their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Piper Sandler upped their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. 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 note on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.