The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Frisch Financial Group Inc.

Frisch Financial Group Inc. decreased its stake in The Charles Schwab Co. (NYSE:SCHW) by 2.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 16,358 shares of the financial services provider’s stock after selling 418 shares during the period. Frisch Financial Group Inc.’s holdings in Charles Schwab were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Nelson Capital Management LLC lifted its holdings in shares of Charles Schwab by 0.4% in the 1st 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 lifted its holdings in shares of Charles Schwab by 2.5% in 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 last quarter. 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 lifted its holdings in shares of Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 164 shares during the last quarter. Finally, Sculati Wealth Management LLC lifted its holdings in shares of Charles Schwab by 0.4% in the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock worth $2,956,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $63.72 on Tuesday. 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 stock has a market capitalization of $113.31 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.16 and a beta of 0.97. The stock’s fifty day simple moving average is $65.14 and its 200 day simple moving average is $70.05. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW) last issued 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 business had revenue of $4.69 billion for 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 quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on 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 in the company, valued at $35,134,851.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on 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 in the company, valued at $35,134,851.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Walter W. Bettinger purchased 25,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were acquired at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Insiders have sold 99,636 shares of company stock worth $6,533,064 in the last three months. 6.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SCHW. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $64.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. Wells Fargo & Company assumed coverage on Charles Schwab in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price on the stock. TD Cowen reaffirmed a “hold” rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Bank of America cut their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Hold” and an average price target of $73.75.

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.