Simplicity Wealth LLC Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Simplicity Wealth LLC decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 88.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,607 shares of the financial services provider’s stock after selling 26,824 shares during the period. Simplicity Wealth LLC’s holdings in Charles Schwab were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research firms have weighed in on SCHW. Wells Fargo & Company initiated coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Barclays reduced 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a report on Thursday, August 22nd. Finally, Morgan Stanley dropped their target price on shares of Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Three 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $72.25.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the sale, the director now directly owns 567,057 shares in the company, valued at $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were acquired 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 in the company, valued at approximately $54,822,000.02. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the transaction, the director now directly owns 567,057 shares in the company, valued at approximately $35,134,851.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,856 shares of company stock worth $6,398,604. 6.60% of the stock is owned by company insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $67.87 on Tuesday. The company has a 50-day simple moving average of $64.23 and a 200-day simple moving average of $69.49. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $120.70 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.43 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) 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 net margin of 26.30% and a return on equity of 18.14%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. On average, analysts predict that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.47%. Charles Schwab’s payout ratio is currently 41.49%.

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.