Ensign Peak Advisors Inc Sells 340,793 Shares of The Charles Schwab Co. (NYSE:SCHW)

Ensign Peak Advisors Inc reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,381,575 shares of the financial services provider’s stock after selling 340,793 shares during the period. Charles Schwab accounts for about 0.7% of Ensign Peak Advisors Inc’s portfolio, making the stock its 21st largest holding. Ensign Peak Advisors Inc owned about 0.30% of Charles Schwab worth $396,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Country Trust Bank bought a new position in shares of Charles Schwab in the second quarter valued at $26,000. Fortitude Family Office LLC increased its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of Charles Schwab in the 2nd quarter valued at about $27,000. CGC Financial Services LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Charles Schwab during the second quarter worth about $29,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SCHW. Jefferies Financial Group raised their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Bank of America cut their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. JMP Securities dropped 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 research report on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.75.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now 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 can be accessed through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab 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 sale, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,636 shares of company stock worth $6,457,104. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $65.38 on Friday. The stock has a market capitalization of $116.27 billion, a PE ratio of 27.36, a P/E/G 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. 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 business has a fifty day moving average price of $64.28 and a two-hundred day moving average price of $69.93.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion for 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 quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. As a group, equities analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Charles Schwab 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.