Mirae Asset Global Investments Co. Ltd. Sells 14,061 Shares of The Charles Schwab Co. (NYSE:SCHW)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,754 shares of the financial services provider’s stock after selling 14,061 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Charles Schwab were worth $13,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SCHW. Vanguard Group Inc. lifted its position in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares during the period. Legal & General Group Plc lifted its holdings in Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after acquiring an additional 225,397 shares during the period. Allen Investment Management LLC boosted its position in Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after purchasing an additional 251,485 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Charles Schwab by 8.9% in the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock valued at $528,445,000 after purchasing an additional 596,589 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of research analyst reports. 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. Cowen boosted their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Citigroup dropped their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Finally, Wells Fargo & Company raised their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.94.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the sale, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the sale, the director now owns 562,129 shares in the company, valued at $36,594,597.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of Charles Schwab stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 182,001 shares of company stock worth $12,512,592. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

SCHW stock opened at $71.82 on Monday. The firm has a 50 day moving average of $65.73 and a 200-day moving average of $69.48. The firm has a market capitalization of $127.64 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97. The Charles Schwab Co. has a 12 month low of $49.16 and a 12 month high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.77 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s payout ratio is currently 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.