The Charles Schwab Corporation $SCHW Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 96,468 shares of the financial services provider’s stock after selling 4,884 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Charles Schwab were worth $9,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Charles Schwab by 21.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 809 shares in the last quarter. United Bank raised its holdings in Charles Schwab by 7.1% during the 2nd quarter. United Bank now owns 16,053 shares of the financial services provider’s stock worth $1,465,000 after buying an additional 1,070 shares during the period. Nebula Research & Development LLC acquired a new stake in Charles Schwab during the 2nd quarter worth about $552,000. Finally, Main Street Financial Solutions LLC lifted its stake in Charles Schwab by 4.7% during the second quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock valued at $623,000 after buying an additional 305 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Charles Schwab news, Director Frank C. Herringer sold 2,520 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the sale, the director owned 177,508 shares of the company’s stock, valued at $16,082,224.80. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $100.01, for a total value of $200,020.00. Following the transaction, the insider owned 13,738 shares in the company, valued at approximately $1,373,937.38. This trade represents a 12.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,520 shares of company stock valued at $622,392. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Up 1.7%

SCHW stock opened at $102.80 on Thursday. The firm has a market cap of $178.78 billion, a PE ratio of 20.40, a PEG ratio of 0.85 and a beta of 0.77. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50. The company has a fifty day simple moving average of $92.24 and a 200 day simple moving average of $95.31. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.39 by $0.04. Charles Schwab had a net margin of 37.99% and a return on equity of 23.05%. The firm had revenue of $6.48 billion for the quarter, compared to the consensus estimate of $6.39 billion. During the same period in the prior year, the business posted $1.04 earnings per share. The business’s quarterly revenue was up 15.8% on a year-over-year basis. Sell-side analysts anticipate that The Charles Schwab Corporation will post 6.23 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, May 8th. Charles Schwab’s dividend payout ratio is 25.40%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler raised their target price on shares of Charles Schwab from $105.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday. UBS Group boosted their price target on shares of Charles Schwab from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Raymond James Financial upped their price target on shares of Charles Schwab from $126.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Barclays decreased their price objective on shares of Charles Schwab from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $116.68.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.