First Eagle Investment Management LLC Sells 13,635 Shares of The Charles Schwab Co. (NYSE:SCHW)

First Eagle Investment Management LLC lowered its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,565,470 shares of the financial services provider’s stock after selling 13,635 shares during the period. First Eagle Investment Management LLC owned 0.20% of Charles Schwab worth $262,740,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SCHW. Country Trust Bank purchased a new position in shares of Charles Schwab during the second quarter valued at about $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC raised its position in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Charles Schwab during the second quarter valued at approximately $29,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,636 shares of company stock worth $5,880,654. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

SCHW opened at $63.56 on Thursday. The company’s 50-day simple moving average is $64.70 and its two-hundred day simple moving average is $69.98. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $112.96 billion, a P/E ratio of 26.59, a P/E/G ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SCHW. Wells Fargo & Company initiated coverage on Charles Schwab in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. UBS Group lowered their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Bank of America lowered their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Finally, Barclays cut their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $73.75.

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.