First Eagle Investment Management LLC Trims Position in The Charles Schwab Co. (NYSE:SCHW)

First Eagle Investment Management LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 0.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,565,470 shares of the financial services provider’s stock after selling 13,635 shares during the quarter. First Eagle Investment Management LLC’s holdings in Charles Schwab were worth $262,740,000 at the end of the most recent reporting period.

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

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now owns 562,129 shares in the company, valued at approximately $36,594,597.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,636 shares of company stock worth $5,880,654. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Charles Schwab stock opened at $63.56 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $112.96 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company’s 50-day moving average is $64.70 and its 200 day moving average is $69.98.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping 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 firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of research reports. StockNews.com cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Morgan Stanley cut their price target on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Wells Fargo & Company began coverage on Charles Schwab in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective on the stock. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and cut their target price for the company from $80.00 to $64.00 in a report on Monday, July 29th. Finally, Barclays decreased their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.75.

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.