Red Spruce Capital LLC Sells 1,283 Shares of The Charles Schwab Co. (NYSE:SCHW)

Red Spruce Capital LLC cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,203 shares of the financial services provider’s stock after selling 1,283 shares during the period. Charles Schwab comprises approximately 1.2% of Red Spruce Capital LLC’s portfolio, making the stock its 29th biggest holding. Red Spruce Capital LLC’s holdings in Charles Schwab were worth $2,541,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after acquiring an additional 292,155 shares during the last quarter. Putnam Investments LLC increased its holdings in Charles Schwab by 4.8% in the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after acquiring an additional 560,110 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Charles Schwab by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock valued at $802,800,000 after acquiring an additional 1,373,223 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,636 shares of company stock worth $6,457,104 in the last ninety days. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

SCHW traded up $1.35 during midday trading on Friday, hitting $64.75. The stock had a trading volume of 7,144,429 shares, compared to its average volume of 7,910,789. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. 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 business has a fifty day moving average of $63.97 and a 200 day moving average of $69.72. The company has a market cap of $115.15 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.29 and a beta of 0.97.

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 company 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 firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 EPS. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.06 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SCHW. Wells Fargo & Company assumed coverage on Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price on the stock. The Goldman Sachs Group reduced their target price on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. JMP Securities lowered their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research note on Thursday, August 22nd. Finally, Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered 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 given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $72.38.

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.