The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 80.1% in the second quarter, Holdings Channel reports. The firm owned 3,415 shares of the financial services provider’s stock after selling 13,755 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Charles Schwab were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nelson Capital Management LLC increased its position in shares of Charles Schwab by 0.4% during the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after purchasing an additional 141 shares during the last quarter. Abbrea Capital LLC increased its position in shares of Charles Schwab by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares during the last quarter. Ironwood Financial llc increased its position in shares of Charles Schwab by 1.6% during the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 164 shares during the last quarter. Finally, Sutton Place Investors LLC increased its position in shares of Charles Schwab by 2.1% during the 2nd quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 167 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Price Performance

SCHW stock opened at $64.42 on Monday. The business has a 50 day moving average price of $64.10 and a 200 day moving average price of $69.86. The stock has a market cap of $114.57 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.21 and a beta of 0.97. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week 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.

Charles Schwab (NYSE:SCHW) last posted its 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. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. Equities research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 $35,543,202.45. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The disclosure for this purchase can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,457,104 over the last 90 days. 6.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SCHW shares. Morgan Stanley dropped their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. JMP Securities dropped their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. JPMorgan Chase & Co. dropped their target price on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Finally, Citigroup dropped their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $73.31.

About Charles Schwab

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.