Federated Hermes Inc. Trims Position in The Charles Schwab Co. (NYSE:SCHW)

Federated Hermes Inc. trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 93.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,521 shares of the financial services provider’s stock after selling 113,286 shares during the quarter. Federated Hermes Inc.’s holdings in Charles Schwab were worth $554,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares during the last quarter. Morningstar Investment Services LLC increased its holdings in shares of Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after buying an additional 2,322,156 shares during the last quarter. Mondrian Investment Partners LTD raised its position in shares of Charles Schwab by 28,736.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after buying an additional 1,480,485 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Charles Schwab during the 1st quarter worth $105,563,000. Finally, Wellington Management Group LLP grew its position in Charles Schwab by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock worth $802,800,000 after acquiring an additional 1,373,223 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 780 shares of the company’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 sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were 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 disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock worth $6,457,104 over the last three months. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SCHW. Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. reduced their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $80.00 to $64.00 in a report on Monday, July 29th. TD Cowen reaffirmed 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. Finally, Barclays lowered their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” 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 given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.75.

Charles Schwab Price Performance

Shares of SCHW stock opened at $64.95 on Tuesday. 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 Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The firm has a market cap of $115.43 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.19 and a beta of 0.97. The business’s 50 day moving average price is $64.08 and its 200-day moving average price is $69.93.

Charles Schwab (NYSE:SCHW) last released 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 business 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 business posted $0.75 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is currently 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.