The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Panagora Asset Management Inc.
Panagora Asset Management Inc. lessened its holdings in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 86.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,994 shares of the financial services provider’s stock after selling 161,596 shares during the quarter. Panagora Asset Management Inc.’s holdings in Charles Schwab were worth $1,473,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Key Financial Inc raised its stake in Charles Schwab by 144.3% in the 2nd quarter. Key Financial Inc now owns 447 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 264 shares during the last quarter. AlphaMark Advisors LLC purchased a new stake in Charles Schwab during the 2nd quarter valued at about $28,000. Global Trust Asset Management LLC raised its holdings in Charles Schwab by 633.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 521 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 450 shares during the last quarter. SJS Investment Consulting Inc. grew its position in shares of Charles Schwab by 1,236.6% in the second quarter. SJS Investment Consulting Inc. now owns 548 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 507 shares in the last quarter. Finally, Worth Asset Management LLC purchased a new stake in shares of Charles Schwab in the first quarter valued at approximately $32,000. 81.61% of the stock is owned by hedge funds and other institutional investors.
Charles Schwab Stock Up 3.0 %
Shares of NYSE:SCHW opened at $63.16 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.87. The Charles Schwab Co. has a fifty-two week low of $45.00 and a fifty-two week high of $86.63. The stock has a market cap of $111.90 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 2.79 and a beta of 0.99. The firm’s 50 day moving average price is $53.95 and its 200 day moving average price is $56.90.
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Charles Schwab had a net margin of 30.14% and a return on equity of 24.58%. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. As a group, equities research analysts predict that The Charles Schwab Co. will post 3.16 earnings per share for the current fiscal year.
Charles Schwab Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. Charles Schwab’s dividend payout ratio is presently 33.33%.
Insider Activity at Charles Schwab
In other news, Director Paula A. Sneed sold 6,918 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $49.98, for a total transaction of $345,761.64. Following the transaction, the director now directly owns 112,398 shares in the company, valued at $5,617,652.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Charles Schwab news, CFO Peter B. Crawford sold 3,114 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $56.19, for a total value of $174,975.66. Following the completion of the transaction, the chief financial officer now owns 41,611 shares in the company, valued at $2,338,122.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paula A. Sneed sold 6,918 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $49.98, for a total transaction of $345,761.64. Following the transaction, the director now directly owns 112,398 shares in the company, valued at $5,617,652.04. The disclosure for this sale can be found here. Insiders sold a total of 13,824 shares of company stock valued at $738,057 over the last ninety days. Insiders own 6.60% of the company’s stock.
Analyst Upgrades and Downgrades
SCHW has been the topic of a number of recent research reports. Jefferies Financial Group lowered their price objective on Charles Schwab from $66.00 to $62.00 in a research note on Tuesday, October 10th. JMP Securities reaffirmed a “market outperform” rating and set a $77.00 target price on shares of Charles Schwab in a research note on Tuesday, October 17th. JPMorgan Chase & Co. cut their price target on shares of Charles Schwab from $92.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on Charles Schwab from $70.00 to $69.00 in a report on Wednesday, October 11th. Finally, Redburn Atlantic assumed coverage on shares of Charles Schwab in a research report on Friday. They set a “sell” rating and a $52.00 price target for the company. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $68.85.
Read Our Latest Stock Analysis on Charles Schwab
Charles Schwab Profile (Free Report)
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. The company operates in two segments, Investor Services and Advisor Services.
See Also
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