The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,348 shares of the financial services provider’s stock after selling 3,984 shares during the period. Empower Advisory Group LLC’s holdings in Charles Schwab were worth $11,235,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Country Trust Bank acquired a new stake in shares of Charles Schwab in the second quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in Charles Schwab in the third quarter valued at $25,000. Washington Trust Advisors Inc. increased its holdings in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares during the last quarter. Finally, American Capital Advisory LLC purchased a new position in Charles Schwab in the second quarter valued at $27,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,645 shares of company stock worth $7,440,627 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $78.27 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52-week low of $54.24 and a 52-week high of $79.49. The business’s 50-day moving average price is $67.76 and its 200 day moving average price is $69.48. The firm has a market cap of $139.29 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. On average, equities research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. Charles Schwab’s payout ratio is currently 39.06%.

Wall Street Analyst Weigh In

Several research firms recently commented on SCHW. Citigroup dropped their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler raised their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, TD Cowen reaffirmed a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.18.

About Charles Schwab

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.