Metis Global Partners LLC Sells 7,682 Shares of The Charles Schwab Corporation $SCHW

Metis Global Partners LLC reduced its stake in The Charles Schwab Corporation (NYSE:SCHW) by 7.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,336 shares of the financial services provider’s stock after selling 7,682 shares during the period. Metis Global Partners LLC’s holdings in Charles Schwab were worth $8,516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Summit Wealth & Retirement Planning Inc. grew its stake in Charles Schwab by 40.4% during the second quarter. Summit Wealth & Retirement Planning Inc. now owns 4,297 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 1,236 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Charles Schwab by 2,210.3% during the 2nd quarter. Penserra Capital Management LLC now owns 2,703 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 2,586 shares in the last quarter. Kinsale Capital Group Inc. increased its holdings in shares of Charles Schwab by 9.1% in the second quarter. Kinsale Capital Group Inc. now owns 131,021 shares of the financial services provider’s stock worth $11,954,000 after purchasing an additional 10,905 shares during the period. Wedbush Securities Inc. raised its position in shares of Charles Schwab by 13.1% in the second quarter. Wedbush Securities Inc. now owns 18,285 shares of the financial services provider’s stock worth $1,668,000 after buying an additional 2,121 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC boosted its stake in Charles Schwab by 2.0% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after buying an additional 107 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial boosted their target price on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, Citigroup lifted their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,866 shares of company stock valued at $6,370,897 in the last quarter. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 1.2%

SCHW opened at $95.33 on Friday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $94.03 and its 200-day moving average price is $91.76. The company has a market cap of $173.05 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the company earned $0.71 EPS. Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab announced that its Board of Directors has approved a share repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.