The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Ariel Investments LLC

Ariel Investments LLC reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 29.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 583,935 shares of the financial services provider’s stock after selling 248,055 shares during the quarter. Ariel Investments LLC’s holdings in Charles Schwab were worth $43,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Nelson Capital Management LLC lifted its stake in Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after purchasing an additional 141 shares during the last quarter. Abbrea Capital LLC raised its position in shares of Charles Schwab by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares during the period. Ironwood Financial llc lifted its holdings in shares of Charles Schwab by 1.6% in the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares during the last quarter. Ascent Wealth Partners LLC boosted its position in Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after purchasing an additional 164 shares during the period. Finally, Sutton Place Investors LLC increased its position in Charles Schwab by 2.1% in the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock worth $596,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.8 %

NYSE:SCHW opened at $64.04 on Thursday. The stock’s 50-day moving average is $64.02 and its two-hundred day moving average is $69.91. 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 stock has a market cap of $113.89 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.22 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.

Charles Schwab (NYSE:SCHW) last released 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. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SCHW shares. JMP Securities reduced their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a report on Tuesday, July 23rd. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Jefferies Financial Group increased their price target on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company started coverage on Charles Schwab in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $73.75.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the 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 transaction, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is owned by corporate insiders.

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.