B. Riley Wealth Advisors Inc. Sells 14,997 Shares of The Charles Schwab Co. (NYSE:SCHW)

B. Riley Wealth Advisors Inc. cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 37.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,959 shares of the financial services provider’s stock after selling 14,997 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Charles Schwab were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Morningstar Investment Services LLC boosted its position in Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after acquiring an additional 2,322,156 shares during the last quarter. M&G Plc acquired a new stake in Charles Schwab in the 1st quarter valued at $11,452,000. Teewinot Capital Advisers L.L.C. grew its holdings in shares of Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after acquiring an additional 64,041 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Charles Schwab by 10.4% during the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after acquiring an additional 17,925 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in Charles Schwab by 12.2% during the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 1,430 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Down 0.9 %

Shares of NYSE:SCHW opened at $63.32 on Thursday. The company has a market capitalization of $112.60 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week 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 company has a fifty day moving average of $64.06 and a 200-day moving average of $69.78.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period last year, the firm posted $0.75 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathan S. Beatty sold 780 shares of the company’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 value of $58,500.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,636 shares of company stock worth $6,457,104. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several recent analyst reports. Morgan Stanley lowered their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Bank of America cut their price target on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. The Goldman Sachs Group decreased their price objective on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Finally, TD Cowen restated a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.31.

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.