IMS Capital Management Has $1.05 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

IMS Capital Management cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,206 shares of the financial services provider’s stock after selling 399 shares during the period. IMS Capital Management’s holdings in Charles Schwab were worth $1,047,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evoke Wealth LLC increased its holdings in shares of Charles Schwab by 5.8% in the fourth quarter. Evoke Wealth LLC now owns 5,759 shares of the financial services provider’s stock worth $396,000 after acquiring an additional 314 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Charles Schwab by 4.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,235,390 shares of the financial services provider’s stock valued at $153,795,000 after buying an additional 90,719 shares in the last quarter. CWA Asset Management Group LLC increased its position in Charles Schwab by 1.5% during the fourth quarter. CWA Asset Management Group LLC now owns 32,364 shares of the financial services provider’s stock worth $2,227,000 after acquiring an additional 493 shares during the period. NEOS Investment Management LLC boosted its holdings in Charles Schwab by 35.1% in the 4th quarter. NEOS Investment Management LLC now owns 21,066 shares of the financial services provider’s stock valued at $1,449,000 after purchasing an additional 5,474 shares during the period. Finally, Holderness Investments Co. acquired a new position in Charles Schwab in the 4th quarter valued at $207,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of SCHW opened at $64.81 on Tuesday. The firm has a fifty day simple moving average of $64.10 and a two-hundred day simple moving average of $69.84. The firm has a market cap of $115.19 billion, a PE ratio of 27.12, a P/E/G ratio of 1.21 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued 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 the consensus estimate of $4.68 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued 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 1.54%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Insiders have sold a total of 99,636 shares of company stock valued at $6,457,104 in the last quarter. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on SCHW. UBS Group lowered their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Citigroup reduced their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley decreased their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Finally, Barclays dropped their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.31.

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.