Steel Grove Capital Advisors LLC Reduces Holdings in The Charles Schwab Co. (NYSE:SCHW)

Steel Grove Capital Advisors LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,850 shares of the financial services provider’s stock after selling 250 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Charles Schwab were worth $505,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SCHW. DRW Securities LLC raised its holdings in shares of Charles Schwab by 18.3% in the second quarter. DRW Securities LLC now owns 81,817 shares of the financial services provider’s stock worth $6,062,000 after buying an additional 12,658 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in Charles Schwab by 5.2% in the 2nd quarter. Epoch Investment Partners Inc. now owns 28,437 shares of the financial services provider’s stock worth $2,096,000 after acquiring an additional 1,415 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Charles Schwab by 381.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 306,575 shares of the financial services provider’s stock worth $22,592,000 after acquiring an additional 242,894 shares during the period. Greenline Partners LLC grew its stake in Charles Schwab by 4.9% during the 2nd quarter. Greenline Partners LLC now owns 24,336 shares of the financial services provider’s stock valued at $1,787,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of Charles Schwab by 923.3% in the second quarter. Frank Rimerman Advisors LLC now owns 17,990 shares of the financial services provider’s stock valued at $1,326,000 after purchasing an additional 16,232 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’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 transaction, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Walter W. Bettinger purchased 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were bought at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the transaction, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The disclosure for this purchase can be found here. Insiders sold 99,636 shares of company stock worth $6,457,104 in the last 90 days. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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 report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. UBS Group decreased their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Barclays dropped their price objective 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. Finally, 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 note on Wednesday, July 17th. Three research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.75.

Charles Schwab Stock Performance

NYSE SCHW opened at $65.39 on Monday. 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’s fifty day moving average is $64.28 and its two-hundred day moving average is $69.96. The firm has a market capitalization of $116.22 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating 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 firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The company’s revenue was up .7% compared to the same quarter last year. On average, research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

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.