Traynor Capital Management Inc. Reduces Holdings in The Charles Schwab Co. (NYSE:SCHW)

Traynor Capital Management Inc. trimmed its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,502 shares of the financial services provider’s stock after selling 638 shares during the quarter. Traynor Capital Management Inc.’s holdings in Charles Schwab were worth $615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in shares of Charles Schwab by 65.3% during the third quarter. Acadian Asset Management LLC now owns 19,006 shares of the financial services provider’s stock valued at $1,042,000 after purchasing an additional 7,505 shares during the period. Asset Dedication LLC raised its holdings in shares of Charles Schwab by 23.3% in the third quarter. Asset Dedication LLC now owns 1,086 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 205 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of Charles Schwab by 45.8% in the third quarter. Natixis Advisors L.P. now owns 774,741 shares of the financial services provider’s stock valued at $42,533,000 after acquiring an additional 243,299 shares in the last quarter. Consolidated Portfolio Review Corp raised its holdings in shares of Charles Schwab by 1.7% in the third quarter. Consolidated Portfolio Review Corp now owns 19,914 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 339 shares in the last quarter. Finally, Providence Capital Advisors LLC bought a new stake in shares of Charles Schwab in the third quarter valued at about $28,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of SCHW stock opened at $74.53 on Tuesday. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The firm has a market capitalization of $132.46 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The stock’s 50-day simple moving average is $74.37 and its 200-day simple moving average is $69.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.25 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.25 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In related news, Director Mark A. Goldfarb sold 7,100 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total value of $503,106.00. Following the sale, the director now owns 19,917 shares in the company, valued at $1,411,318.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the sale, the director now owns 574,257 shares in the company, valued at approximately $45,027,491.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Goldfarb sold 7,100 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total value of $503,106.00. Following the completion of the sale, the director now owns 19,917 shares in the company, valued at approximately $1,411,318.62. The disclosure for this sale can be found here. Insiders have sold a total of 658,663 shares of company stock worth $48,997,146 over the last quarter. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on SCHW shares. Morgan Stanley lifted their price objective on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Bank of America lifted their price objective on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. Piper Sandler lifted their price objective on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. JMP Securities restated a “market outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, May 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.65.

Charles Schwab Company 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.