Invesco Ltd. Cuts Stake in The Charles Schwab Corporation $SCHW

Invesco Ltd. reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,175,398 shares of the financial services provider’s stock after selling 411,052 shares during the period. Invesco Ltd. owned 0.84% of Charles Schwab worth $1,384,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $25,000. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter worth $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Charles Schwab during the 2nd quarter worth $32,000. Hoese & Co LLP boosted its position in shares of Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Finally, Evelyn Partners Asset Management Ltd purchased a new stake in shares of Charles Schwab in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Bank of America lifted their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. BMO Capital Markets began coverage on Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective for the company. Barclays raised their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, Morgan Stanley upped their price target on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued 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 an average rating of “Moderate Buy” and an average target price of $106.45.

Insider Activity

In related news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value 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 this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following 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 currently owned by corporate insiders.

Charles Schwab Stock Down 0.6%

Shares of NYSE SCHW opened at $92.12 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $93.72 and its two-hundred day moving average is $93.08. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The firm has a market cap of $163.69 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. 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 declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders 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 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s dividend payout ratio is 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.