Claro Advisors LLC Cuts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Claro Advisors LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,173 shares of the financial services provider’s stock after selling 172 shares during the period. Claro Advisors LLC’s holdings in Charles Schwab were worth $381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Charles Schwab by 0.9% in the 1st 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 increased its holdings 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 buying an additional 2,946,327 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Charles Schwab by 4.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after buying an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after buying an additional 292,155 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Charles Schwab during the 4th quarter worth about $950,192,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SCHW. Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. UBS Group cut their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley lowered their target price on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. TD Cowen reiterated a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Hold” and an average price target of $74.00.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $65.10 on Tuesday. 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 company has a market cap of $115.78 billion, a PE ratio of 27.24, a P/E/G ratio of 1.22 and a beta of 0.99. The stock has a fifty day moving average price of $67.22 and a 200 day moving average price of $70.15. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping 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 company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter last year, the business earned $0.75 EPS. The business’s revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insiders Place Their Bets

In related news, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were bought at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the transaction, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Bernard J. Clark sold 8,164 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $612,300.00. Following the sale, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Richard A. Wurster acquired 10,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 17th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 107,800 shares of company stock worth $7,145,364. 6.60% of the stock is owned by corporate insiders.

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.