Mercer Global Advisors Inc. ADV Decreases Position in The Charles Schwab Co. (NYSE:SCHW)

Mercer Global Advisors Inc. ADV decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,027 shares of the financial services provider’s stock after selling 19,565 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Charles Schwab were worth $12,603,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Country Trust Bank acquired a new position in Charles Schwab during the 2nd quarter worth approximately $26,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the second quarter worth $27,000. Fortitude Family Office LLC increased its holdings in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares during the last quarter. CGC Financial Services LLC acquired a new stake in Charles Schwab in the second quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Charles Schwab during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, CEO Walter W. Bettinger bought 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were bought at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Insiders have sold a total of 90,636 shares of company stock worth $5,880,654 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SCHW. TD Cowen reissued a “hold” rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $64.00 in a report on Monday, July 29th. Barclays cut their price target on shares of 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. JMP Securities decreased their price objective on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. cut their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.75.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $64.75 on Friday. The stock has a fifty day moving average price of $64.48 and a 200 day moving average price of $69.95. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $115.15 billion, a PE ratio of 27.09, a P/E/G ratio of 1.19 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter last year, the business earned $0.75 EPS. The business’s revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

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.