The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 39.6% during the first quarter, Holdings Channel reports. The institutional investor owned 9,000 shares of the financial services provider’s stock after selling 5,900 shares during the period. Hennessy Advisors Inc.’s holdings in Charles Schwab were worth $705,000 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. Brighton Jones LLC boosted its holdings in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 19,195 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Charles Schwab by 59.5% during the fourth quarter. Manchester Capital Management LLC now owns 2,753 shares of the financial services provider’s stock worth $204,000 after buying an additional 1,027 shares in the last quarter. Everhart Financial Group Inc. boosted its holdings in Charles Schwab by 19.1% during the fourth quarter. Everhart Financial Group Inc. now owns 6,539 shares of the financial services provider’s stock worth $484,000 after buying an additional 1,050 shares in the last quarter. Principal Securities Inc. boosted its holdings in Charles Schwab by 4.4% during the fourth quarter. Principal Securities Inc. now owns 133,843 shares of the financial services provider’s stock worth $9,906,000 after buying an additional 5,663 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Charles Schwab by 25.7% during the fourth quarter. Allworth Financial LP now owns 31,867 shares of the financial services provider’s stock worth $2,569,000 after buying an additional 6,521 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $87.68, for a total transaction of $288,467.20. Following the transaction, the insider now owns 39,154 shares of the company’s stock, valued at $3,433,022.72. This trade represents a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Craig sold 9,559 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $82.00, for a total transaction of $783,838.00. The disclosure for this sale can be found here. Insiders have sold a total of 97,608 shares of company stock valued at $8,392,040 over the last quarter. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of research analyst reports. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Barclays reduced their price target on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their price target for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. Finally, Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and upped their price target for the company from $65.00 to $82.00 in a report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Charles Schwab Stock Performance

Shares of SCHW opened at $87.26 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $158.55 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 0.99 and a beta of 0.94. The company’s 50 day simple moving average is $83.30 and its 200 day simple moving average is $79.84. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $89.85.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the firm posted $0.74 earnings per share. On average, sell-side analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, May 9th. Charles Schwab’s dividend payout ratio is currently 32.73%.

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.