Metis Global Partners LLC Sells 7,682 Shares of The Charles Schwab Corporation $SCHW

Metis Global Partners LLC decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.6% during the second quarter, Holdings Channel reports. The fund owned 93,336 shares of the financial services provider’s stock after selling 7,682 shares during the period. Metis Global Partners LLC’s holdings in Charles Schwab were worth $8,516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new stake in Charles Schwab in the second quarter worth $25,000. RMG Wealth Management LLC bought a new stake in shares of Charles Schwab during the 2nd quarter valued at $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Charles Schwab in the 2nd quarter worth about $32,000. Hoese & Co LLP increased its stake in shares of Charles Schwab by 131.6% in the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its position in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $95.33 on Friday. The firm has a market capitalization of $173.05 billion, a P/E ratio of 22.33, a PEG ratio of 0.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The business has a fifty day moving average of $94.03 and a 200 day moving average of $91.76.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion for 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 business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has approved a stock buyback plan on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 65,866 shares of company stock worth $6,370,897 in the last 90 days. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SCHW. TD Cowen lifted their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Barclays raised their price target on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

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.