The Charles Schwab Corporation $SCHW Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,948 shares of the financial services provider’s stock after selling 2,413 shares during the period. Beacon Pointe Advisors LLC’s holdings in Charles Schwab were worth $17,969,000 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. Brighton Jones LLC grew its stake in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 19,195 shares in the last quarter. Federated Hermes Inc. grew its position in Charles Schwab by 6.7% in the first quarter. Federated Hermes Inc. now owns 8,216 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 519 shares in the last quarter. J. Safra Sarasin Holding AG grew its position in Charles Schwab by 40.8% in the first quarter. J. Safra Sarasin Holding AG now owns 4,190 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 1,215 shares in the last quarter. Liberty Wealth Management LLC purchased a new stake in shares of Charles Schwab during the first quarter valued at approximately $46,000. Finally, Scotia Capital Inc. lifted its position in shares of Charles Schwab by 2.2% during the first quarter. Scotia Capital Inc. now owns 80,094 shares of the financial services provider’s stock worth $6,270,000 after purchasing an additional 1,733 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 Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 3,205 shares of the company’s 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 transaction, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

SCHW stock opened at $92.69 on Tuesday. The stock’s 50 day simple moving average is $93.75 and its 200 day simple moving average is $93.06. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The firm has a market cap of $164.70 billion, a P/E ratio of 21.71, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

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, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion during 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 21.26%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio is 25.29%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

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.