The Charles Schwab Corporation $SCHW Shares Sold by Bamco Inc. NY

Bamco Inc. NY lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 2.4% during the second quarter, HoldingsChannel reports. The fund owned 7,051,368 shares of the financial services provider’s stock after selling 172,800 shares during the period. Charles Schwab accounts for about 1.7% of Bamco Inc. NY’s investment portfolio, making the stock its 13th biggest holding. Bamco Inc. NY’s holdings in Charles Schwab were worth $643,367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC increased its stake in Charles Schwab by 8.1% in the second quarter. AQR Capital Management LLC now owns 2,549,953 shares of the financial services provider’s stock valued at $231,663,000 after purchasing an additional 191,643 shares during the last quarter. CTC Alternative Strategies Ltd. acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $575,000. Florida Financial Advisors LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $328,000. California State Teachers Retirement System grew its position in shares of Charles Schwab by 2.2% in the 2nd quarter. California State Teachers Retirement System now owns 2,701,032 shares of the financial services provider’s stock valued at $246,442,000 after buying an additional 57,731 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in Charles Schwab by 7.3% during the 2nd quarter. Raymond James Financial Inc. now owns 2,675,619 shares of the financial services provider’s stock worth $244,123,000 after acquiring an additional 182,659 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred 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 sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is owned by company insiders.

Charles Schwab Trading Down 0.4%

NYSE:SCHW opened at $96.63 on Friday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $93.86 and its 200-day simple moving average is $93.40. The firm has a market cap of $171.71 billion, a P/E ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the company posted $0.71 EPS. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Morgan Stanley increased their price objective on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. TD Cowen raised their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Bank of America upped their price target on shares of Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $108.37.

Charles Schwab 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.