Larson Financial Group LLC Sells 779 Shares of The Charles Schwab Co. (NYSE:SCHW)

Larson Financial Group LLC reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 29.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,824 shares of the financial services provider’s stock after selling 779 shares during the quarter. Larson Financial Group LLC’s holdings in Charles Schwab were worth $134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Country Trust Bank purchased a new position in shares of Charles Schwab during the second quarter valued at approximately $26,000. American Capital Advisory LLC bought a new position in Charles Schwab in the 2nd quarter worth $27,000. Fortitude Family Office LLC boosted its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new position in shares of Charles Schwab during the second quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Charles Schwab in the second quarter worth about $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SCHW shares. JMP Securities cut their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group upped their price target on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.00.

Insider Activity

In related news, President Richard A. Wurster bought 10,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $62.05 per share, with a total value of $620,500.00. Following the transaction, the president now owns 144,228 shares in the company, valued at approximately $8,949,347.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Richard A. Wurster bought 10,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were bought at an average price of $62.05 per share, with a total value of $620,500.00. Following the completion of the acquisition, the president now owns 144,228 shares in the company, valued at $8,949,347.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The disclosure for this sale can be found here. Insiders sold 107,800 shares of company stock valued at $7,145,364 over the last three months. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $62.90 on Friday. The company has a market cap of $111.86 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.20 and a beta of 0.97. The business’s fifty day simple moving average is $66.44 and its two-hundred day simple moving average is $70.10. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period last year, the firm posted $0.75 earnings per share. Charles Schwab’s revenue was up .7% compared to the same quarter last year. Research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.