The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 225,962,971 shares of the financial services provider’s stock after selling 122,388 shares during the quarter. Charles Schwab accounts for about 26.6% of Toronto Dominion Bank’s portfolio, making the stock its biggest holding. Toronto Dominion Bank owned about 12.71% of Charles Schwab worth $16,651,186,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares in the last quarter. Fisher Asset Management LLC increased its stake in Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock valued at $1,281,297,000 after buying an additional 292,155 shares during the last quarter. Putnam Investments LLC lifted its position in Charles Schwab by 4.8% during the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after buying an additional 560,110 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Charles Schwab by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock worth $802,800,000 after buying an additional 1,373,223 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at $1,355,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,636 shares of company stock worth $6,457,104. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.5 %

Charles Schwab stock opened at $64.60 on Wednesday. The company’s 50-day moving average price is $64.02 and its two-hundred day moving average price is $69.91. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $114.89 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.22 and a beta of 0.97. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. As a group, analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given 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 1.55%. Charles Schwab’s payout ratio is presently 41.84%.

Analyst Ratings Changes

SCHW has been the topic of a number of recent research reports. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. UBS Group lowered their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. JMP Securities cut their price objective on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a report on Tuesday, July 23rd. Bank of America lowered their target price on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Finally, Barclays dropped 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 report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.