Sendero Wealth Management LLC Sells 11,403 Shares of The Charles Schwab Co. (NYSE:SCHW)

Sendero Wealth Management LLC trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,012 shares of the financial services provider’s stock after selling 11,403 shares during the quarter. Charles Schwab makes up about 1.3% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Sendero Wealth Management LLC’s holdings in Charles Schwab were worth $8,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SCHW. Country Trust Bank bought a new position in Charles Schwab in the 2nd quarter worth $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the second quarter valued at about $27,000. Fortitude Family Office LLC increased its holdings in shares of Charles Schwab by 97.5% in the second 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. CGC Financial Services LLC purchased a new stake in shares of Charles Schwab in the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Charles Schwab during the 2nd quarter valued at approximately $29,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 0.3 %

SCHW traded up $0.19 during trading on Thursday, hitting $66.89. The company had a trading volume of 2,451,180 shares, compared to its average volume of 7,998,710. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a market capitalization of $118.96 billion, a PE ratio of 27.90, a PEG ratio of 1.39 and a beta of 0.97. The firm’s 50-day moving average price is $63.98 and its 200 day moving average price is $69.60. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, equities analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.49%. Charles Schwab’s payout ratio is presently 41.84%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the transaction, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total value of $74,980.00. Following the transaction, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,856 shares of company stock worth $6,398,604. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

SCHW has been the topic of several research reports. JPMorgan Chase & Co. decreased 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 note on Wednesday, July 17th. TD Cowen restated a “hold” rating and set a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. UBS Group cut their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Citigroup reduced their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average price target of $72.25.

About Charles Schwab

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.