The Charles Schwab Co. (NYSE:SCHW) Stock Position Cut by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 21.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 11,000 shares of the financial services provider’s stock after selling 3,000 shares during the period. Hennessy Advisors Inc.’s holdings in Charles Schwab were worth $796,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SCHW. Price T Rowe Associates Inc. MD boosted its position in shares of Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares in the last quarter. Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter valued at about $950,192,000. Ameriprise Financial Inc. lifted its stake in Charles Schwab by 186.2% during the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after buying an additional 4,624,302 shares in the last quarter. Boston Partners lifted its stake in Charles Schwab by 424.7% during the fourth quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after buying an additional 3,602,830 shares in the last quarter. Finally, Morningstar Investment Services LLC lifted its stake in Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after buying an additional 2,322,156 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the transaction, the director now directly owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the sale, the director now directly owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 658,663 shares of company stock valued at $48,997,146. 6.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on SCHW shares. JPMorgan Chase & Co. reduced their price objective on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. Barclays upped their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. UBS Group upped their price objective on shares of Charles Schwab from $87.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Citigroup upped their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Piper Sandler upped their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.56.

Charles Schwab Price Performance

Shares of SCHW stock opened at $73.69 on Friday. The stock has a 50-day moving average price of $74.42 and a 200 day moving average price of $69.78. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The firm has a market cap of $130.97 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 1.14 and a beta of 0.96. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. Research analysts expect that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s payout ratio is presently 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.