Davis Selected Advisers Sells 2,240 Shares of The Charles Schwab Co. (NYSE:SCHW)

Davis Selected Advisers lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 304,789 shares of the financial services provider’s stock after selling 2,240 shares during the period. Davis Selected Advisers’ holdings in Charles Schwab were worth $22,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in shares of Charles Schwab by 5.9% during the fourth quarter. International Assets Investment Management LLC now owns 10,994 shares of the financial services provider’s stock worth $756,000 after buying an additional 612 shares in the last quarter. Gryphon Financial Partners LLC bought a new stake in Charles Schwab during the 4th quarter worth about $466,000. Dana Investment Advisors Inc. increased its holdings in shares of Charles Schwab by 10.3% in the fourth quarter. Dana Investment Advisors Inc. now owns 18,528 shares of the financial services provider’s stock valued at $1,275,000 after purchasing an additional 1,733 shares in the last quarter. QRG Capital Management Inc. raised its position in Charles Schwab by 5.3% in the 4th quarter. QRG Capital Management Inc. now owns 94,539 shares of the financial services provider’s stock worth $6,504,000 after purchasing an additional 4,730 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Charles Schwab by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,553,671 shares of the financial services provider’s stock worth $313,324,000 after buying an additional 309,883 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

SCHW has been the topic of several research reports. StockNews.com lowered Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Morgan Stanley lowered their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $80.00 to $64.00 in a report on Monday, July 29th. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.00.

Charles Schwab Stock Up 0.5 %

Shares of SCHW stock traded up $0.30 during trading hours on Monday, hitting $63.20. 366,939 shares of the company were exchanged, compared to its average volume of 7,978,619. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week 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. The business has a 50 day moving average of $66.44 and a two-hundred day moving average of $70.15. The company has a market capitalization of $112.40 billion, a PE ratio of 26.32, a PEG ratio of 1.18 and a beta of 0.97.

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. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. Analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’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 sale, the director now owns 562,129 shares of the company’s stock, valued at $36,594,597.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, President Richard A. Wurster purchased 10,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were purchased at an average price of $62.05 per share, with a total value of $620,500.00. Following the transaction, the president now directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the 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 completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The disclosure for this sale can be found here. Insiders sold a total of 107,800 shares of company stock valued at $7,145,364 in the last quarter. 6.60% of the stock is currently owned by 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.