The Charles Schwab Corporation $SCHW Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 32.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,185,390 shares of the financial services provider’s stock after selling 1,054,507 shares during the quarter. Charles Schwab comprises 0.7% of Los Angeles Capital Management LLC’s portfolio, making the stock its 24th largest position. Los Angeles Capital Management LLC owned approximately 0.12% of Charles Schwab worth $199,395,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Titan Global Capital Management USA LLC grew its position in shares of Charles Schwab by 25.5% during the second quarter. Titan Global Capital Management USA LLC now owns 297,283 shares of the financial services provider’s stock worth $27,124,000 after acquiring an additional 60,491 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Charles Schwab by 11.5% during the 1st quarter. Summit Investment Advisors Inc. now owns 16,235 shares of the financial services provider’s stock valued at $1,271,000 after purchasing an additional 1,669 shares during the period. AE Wealth Management LLC grew its position in Charles Schwab by 4.6% in the 2nd quarter. AE Wealth Management LLC now owns 43,223 shares of the financial services provider’s stock worth $3,944,000 after purchasing an additional 1,894 shares during the last quarter. Summit Wealth & Retirement Planning Inc. increased its stake in shares of Charles Schwab by 40.4% in 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 purchasing an additional 1,236 shares during the period. Finally, Penserra Capital Management LLC raised its holdings in shares of Charles Schwab by 2,210.3% during the second quarter. Penserra Capital Management LLC now owns 2,703 shares of the financial services provider’s stock valued at $245,000 after buying an additional 2,586 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SCHW. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Citigroup boosted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Transactions at Charles Schwab

In related 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 value of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,866 shares of company stock worth $6,370,897 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $95.33 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The stock has a market capitalization 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. The company has a 50 day moving average of $94.03 and a 200-day moving average of $91.76.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

Charles Schwab declared that its Board of Directors has initiated a stock buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.