The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 577,572 shares of the financial services provider’s stock after selling 1,946 shares during the period. Victory Capital Management Inc.’s holdings in Charles Schwab were worth $37,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Aptus Capital Advisors LLC boosted its stake in shares of Charles Schwab by 20.7% in the third quarter. Aptus Capital Advisors LLC now owns 10,728 shares of the financial services provider’s stock worth $695,000 after buying an additional 1,841 shares during the last quarter. Commonwealth Retirement Investments LLC boosted its position in Charles Schwab by 11.9% in the 3rd quarter. Commonwealth Retirement Investments LLC now owns 28,239 shares of the financial services provider’s stock worth $1,830,000 after purchasing an additional 3,006 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Charles Schwab during the 3rd quarter worth approximately $1,917,000. Savvy Advisors Inc. increased its holdings in shares of Charles Schwab by 70.8% during the 3rd quarter. Savvy Advisors Inc. now owns 5,518 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 2,287 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of Charles Schwab by 40.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 30,198 shares of the financial services provider’s stock valued at $1,957,000 after purchasing an additional 8,730 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $80.64 on Friday. The business’s 50 day moving average price is $68.74 and its 200 day moving average price is $69.66. The company has a market cap of $143.51 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.47. The Charles Schwab Co. has a one year low of $55.09 and a one year high of $82.50.

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

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, November 8th. Charles Schwab’s payout ratio is presently 39.06%.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the business’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 sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,645 shares of company stock worth $7,440,627. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group reduced their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a report on Friday, October 4th. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler lifted their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.