The Charles Schwab Corporation $SCHW Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 162,660 shares of the financial services provider’s stock after selling 3,638 shares during the quarter. Empower Advisory Group LLC’s holdings in Charles Schwab were worth $14,841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Charles Schwab by 2.9% during the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after buying an additional 1,038,376 shares in the last quarter. Northern Trust Corp grew its position in Charles Schwab by 10.8% during the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after buying an additional 1,700,384 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Charles Schwab by 16.0% in the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock valued at $1,339,822,000 after buying an additional 2,355,309 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $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. Insiders have sold a total of 68,938 shares of company stock worth $6,671,953 in the last ninety days. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SCHW. Cowen restated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Citigroup boosted their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. TD Cowen increased their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Stock Down 1.0%

Shares of SCHW opened at $94.37 on Friday. The stock has a 50 day moving average price of $94.06 and a 200 day moving average price of $92.43. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $167.70 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.85 and a beta of 1.02.

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 company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 EPS. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its Board of Directors has initiated a share buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

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.