Rathbones Group PLC Decreases Position in The Charles Schwab Corporation $SCHW

Rathbones Group PLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,800 shares of the financial services provider’s stock after selling 9,159 shares during the quarter. Rathbones Group PLC’s holdings in Charles Schwab were worth $9,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC grew its holdings in shares of Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after buying an additional 123 shares during the last quarter. Optima Capital LLC purchased a new position in Charles Schwab in the 4th quarter worth $30,000. Scarborough Advisors LLC acquired a new stake in Charles Schwab during the 1st quarter worth about $29,000. McIlrath & Eck LLC lifted its position in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 189 shares during the period. Finally, Main Street Group LTD purchased a new stake in Charles Schwab during the 1st quarter valued at about $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SCHW. Morgan Stanley increased their price objective on Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Monday, July 27th. TD Cowen lifted their target price on Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Wolfe Research reiterated an “outperform” rating and issued a $127.00 target price on shares of Charles Schwab in a research report on Tuesday, July 21st. Piper Sandler set a $118.00 price target on shares of Charles Schwab in a report on Tuesday, July 21st. Finally, Barclays raised their price target on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.17.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $104.21, for a total value of $208,420.00. Following the completion of the transaction, the insider directly owned 11,738 shares in the company, valued at $1,223,216.98. The trade was a 14.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 192,488 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $103.90, for a total transaction of $19,999,503.20. Following the sale, the chairman directly owned 529,346 shares in the company, valued at $54,999,049.40. This trade represents a 26.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 363,848 shares of company stock valued at $37,874,706 in the last three months. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

NYSE SCHW opened at $105.76 on Tuesday. The stock has a 50-day simple moving average of $95.64 and a two-hundred day simple moving average of $95.48. The firm has a market capitalization of $183.94 billion, a P/E ratio of 19.23, a PEG ratio of 0.80 and a beta of 0.76. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $107.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s revenue was up 20.9% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is presently 23.27%.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.