Donald L. Hagan LLC Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Donald L. Hagan LLC lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,583 shares of the financial services provider’s stock after selling 747 shares during the quarter. Donald L. Hagan LLC’s holdings in Charles Schwab were worth $751,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. M&G Plc bought a new position in Charles Schwab during the 1st quarter valued at approximately $11,452,000. Teewinot Capital Advisers L.L.C. increased its holdings in shares of Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after acquiring an additional 64,041 shares in the last quarter. Iowa State Bank increased its holdings in shares of Charles Schwab by 37.9% during the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after acquiring an additional 7,829 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Charles Schwab by 8.3% in the 1st quarter. Orion Portfolio Solutions LLC now owns 134,897 shares of the financial services provider’s stock worth $9,758,000 after purchasing an additional 10,393 shares during the last quarter. Finally, Fiduciary Financial Group LLC purchased a new stake in Charles Schwab during the 2nd quarter valued at about $3,697,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SCHW shares. The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Citigroup decreased their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Barclays upped their price target on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler upped their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Stock Performance

NYSE:SCHW traded up $2.83 during mid-day trading on Wednesday, hitting $74.14. 3,134,807 shares of the company traded hands, compared to its average volume of 7,959,934. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average price is $66.67 and its 200-day moving average price is $69.45. The firm has a market cap of $131.85 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The Charles Schwab Co. has a one year low of $53.49 and a one year 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 (EPS) for the quarter, beating 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $0.77 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,465 shares of company stock worth $8,050,109 in the last three months. Company insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.