The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 28.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,386 shares of the financial services provider’s stock after selling 96,051 shares during the period. Texas Permanent School Fund Corp’s holdings in Charles Schwab were worth $18,230,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC purchased a new stake in shares of Charles Schwab in the second quarter worth about $5,116,000. Choreo LLC lifted its position in Charles Schwab by 1,397.6% during the 2nd quarter. Choreo LLC now owns 115,001 shares of the financial services provider’s stock worth $8,444,000 after acquiring an additional 107,322 shares in the last quarter. Prudential PLC boosted its holdings in Charles Schwab by 45.9% in the 2nd quarter. Prudential PLC now owns 57,604 shares of the financial services provider’s stock worth $4,245,000 after acquiring an additional 18,112 shares during the period. Oak Thistle LLC acquired a new stake in Charles Schwab in the second quarter valued at approximately $287,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of Charles Schwab by 1,842.2% during the second quarter. Prestige Wealth Management Group LLC now owns 3,962 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 3,758 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on SCHW. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. UBS Group decreased their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. Bank of America reduced their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.00.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $0.36 on Monday, reaching $63.26. 350,260 shares of the company’s stock were exchanged, compared to its average volume of 7,978,848. The business’s 50-day moving average is $66.44 and its two-hundred day moving average is $70.15. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The firm has a market capitalization of $112.50 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.18 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Insider Activity at Charles Schwab

In other news, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the transaction, the president now owns 144,228 shares in the company, valued at $8,949,347.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, President Richard A. Wurster purchased 10,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The stock was bought at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the transaction, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 562,129 shares in the company, valued at $36,594,597.90. The disclosure for this sale can be found here. Insiders sold 107,800 shares of company stock worth $7,145,364 in the last 90 days. 6.60% of the stock is currently owned by company insiders.

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.