American Trust Has $4.14 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

American Trust trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 4.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,130 shares of the financial services provider’s stock after selling 2,598 shares during the period. American Trust’s holdings in Charles Schwab were worth $4,136,000 at the end of the most recent reporting period.

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

Charles Schwab Price Performance

Charles Schwab stock opened at $63.91 on Wednesday. The stock has a market cap of $113.66 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 1.32 and a beta of 0.97. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. 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 business’s 50-day simple moving average is $64.08 and its 200 day simple moving average is $69.82.

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

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Charles Schwab’s dividend payout ratio is 41.84%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SCHW. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Bank of America cut their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group boosted their price target on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. UBS Group dropped their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group decreased their target price on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.31.

Insider Buying and Selling

In other news, President Richard A. Wurster purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $62.05 per share, with a total value of $620,500.00. Following the acquisition, the president now directly owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Walter W. Bettinger purchased 25,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was bought at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Richard A. Wurster acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the transaction, the president now directly owns 144,228 shares in the company, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Insiders have sold 99,636 shares of company stock valued at $6,457,104 in the last 90 days. 6.60% of the stock is owned by insiders.

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.