Assenagon Asset Management S.A. Cuts Position in The Charles Schwab Corporation $SCHW

Assenagon Asset Management S.A. decreased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 0.5% in the 2nd quarter, Holdings Channel reports. The firm owned 1,743,958 shares of the financial services provider’s stock after selling 9,250 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Charles Schwab were worth $160,915,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SCHW. Dogwood Wealth Management LLC increased its holdings in Charles Schwab by 99.2% in 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 in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Charles Schwab during the 1st quarter worth approximately $29,000. Optima Capital LLC purchased a new stake in shares of Charles Schwab during the 4th quarter worth approximately $30,000. McIlrath & Eck LLC grew its holdings in shares of Charles Schwab by 143.2% in 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 acquired a new stake in shares of Charles Schwab in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 6,952 shares of Charles Schwab stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total transaction of $709,312.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis Howard sold 28,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the completion of the transaction, the insider directly owned 10,470 shares of the company’s stock, valued at $1,099,454.70. The trade was a 72.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 363,848 shares of company stock valued at $37,874,706. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on SCHW. Wolfe Research reaffirmed an “outperform” rating and set a $127.00 price objective on shares of Charles Schwab in a report on Tuesday, July 21st. BMO Capital Markets lowered Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a report on Monday, July 20th. Compass Point started coverage on Charles Schwab in a research report on Monday. They issued a “buy” rating and a $135.00 price target for the company. Piper Sandler set a $118.00 price target on Charles Schwab in a research note on Tuesday, July 21st. Finally, Morgan Stanley lifted their price target on Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.17.

Charles Schwab Trading Down 0.3%

Shares of Charles Schwab stock opened at $107.65 on Friday. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $109.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50 day moving average price of $96.88 and a 200 day moving average price of $95.57. The company has a market capitalization of $187.22 billion, a P/E ratio of 19.57, a P/E/G ratio of 0.82 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. The firm had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.Charles Schwab’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. Sell-side analysts anticipate that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

Charles Schwab Profile

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.