Westwood Holdings Group Inc. Sells 158,113 Shares of The Charles Schwab Co. (NYSE:SCHW)

Westwood Holdings Group Inc. cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,340,816 shares of the financial services provider’s stock after selling 158,113 shares during the quarter. Westwood Holdings Group Inc. owned 0.08% of Charles Schwab worth $98,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Trail Advisors LLC increased its position in Charles Schwab by 109.3% in the 2nd quarter. Summit Trail Advisors LLC now owns 77,473 shares of the financial services provider’s stock valued at $5,709,000 after buying an additional 40,461 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Charles Schwab by 1.6% during the second quarter. Thrivent Financial for Lutherans now owns 1,955,289 shares of the financial services provider’s stock worth $144,085,000 after purchasing an additional 30,897 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Charles Schwab by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 106,653 shares of the financial services provider’s stock worth $7,859,000 after purchasing an additional 4,696 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Charles Schwab by 2.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 301,290 shares of the financial services provider’s stock valued at $22,202,000 after purchasing an additional 6,507 shares during the period. Finally, AE Wealth Management LLC raised its holdings in Charles Schwab by 8.1% during the second quarter. AE Wealth Management LLC now owns 54,686 shares of the financial services provider’s stock worth $4,030,000 after buying an additional 4,081 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 1.0 %

Shares of Charles Schwab stock opened at $65.38 on Friday. 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 $116.27 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.19 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. The stock’s 50-day simple moving average is $64.28 and its 200 day simple moving average is $69.93.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS 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 during the quarter, compared to analyst estimates of $4.68 billion. During the same period last year, the business earned $0.75 earnings per share. Charles Schwab’s revenue was up .7% compared to the same quarter last year. As a group, research analysts anticipate 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. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the transaction, the director now directly owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares in the company, valued at $35,134,851.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Richard A. Wurster purchased 10,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were acquired at an average cost of $62.05 per share, with a total value of $620,500.00. Following the transaction, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The disclosure for this purchase can be found here. Insiders have sold 99,636 shares of company stock worth $6,457,104 in the last ninety days. 6.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SCHW shares. Bank of America decreased their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Wells Fargo & Company began coverage on Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Jefferies Financial Group lifted their target price on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 8th. JMP Securities lowered their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus 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.