Amundi Reduces Holdings in The Charles Schwab Corporation $SCHW

Amundi lessened its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,744,025 shares of the financial services provider’s stock after selling 286,337 shares during the quarter. Amundi’s holdings in Charles Schwab were worth $524,659,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $25,000. RMG Wealth Management LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC lifted its position in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab during the first quarter worth about $31,000. Finally, Activest Wealth Management boosted its stake in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after buying an additional 399 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SCHW. JMP Securities reissued a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Barclays lifted their target price on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Morgan Stanley upped their price target on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. The Goldman Sachs Group restated a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Finally, Bank of America lifted their price objective on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.45.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. 6.30% of the stock is currently owned by insiders.

Charles Schwab Price Performance

SCHW stock opened at $95.02 on Friday. The business’s 50-day moving average is $93.76 and its two-hundred day moving average is $93.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $168.84 billion, a P/E ratio of 22.25, a P/E/G ratio of 0.83 and a beta of 0.96. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. Analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

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.