Weaver C. Barksdale & Associates Inc. Cuts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Weaver C. Barksdale & Associates Inc. decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,781 shares of the financial services provider’s stock after selling 527 shares during the period. Charles Schwab makes up 2.2% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 7th biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Charles Schwab were worth $2,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bridges Investment Management Inc. acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $1,625,000. Canada Pension Plan Investment Board grew its holdings in shares of Charles Schwab by 12.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,693,022 shares of the financial services provider’s stock worth $124,759,000 after purchasing an additional 185,388 shares in the last quarter. Intech Investment Management LLC increased its holdings in Charles Schwab by 21.1% in the 2nd quarter. Intech Investment Management LLC now owns 25,194 shares of the financial services provider’s stock valued at $1,857,000 after buying an additional 4,395 shares during the period. ProVise Management Group LLC lifted its stake in Charles Schwab by 4.2% during the second quarter. ProVise Management Group LLC now owns 158,557 shares of the financial services provider’s stock worth $11,684,000 after purchasing an additional 6,330 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Charles Schwab in the 2nd quarter valued at $3,000,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Up 1.9 %

SCHW opened at $64.75 on Friday. 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 firm has a market capitalization of $115.15 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.19 and a beta of 0.97. The business has a 50 day simple moving average of $64.48 and a two-hundred day simple moving average of $69.95. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $0.75 earnings per share. Analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

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 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Insider Buying and Selling

In other news, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were bought at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the purchase, the president now owns 144,228 shares in the company, valued at $8,949,347.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Walter W. Bettinger acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Richard A. Wurster acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $62.05 per share, with a total value of $620,500.00. Following the acquisition, the president now owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 90,636 shares of company stock valued at $5,880,654. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a report on Thursday, August 22nd. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Barclays dropped their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 17th. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, JMP Securities lowered their price objective on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.75.

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.