CENTRAL TRUST Co Has $682,000 Holdings in The Charles Schwab Co. (NYSE:SCHW)

CENTRAL TRUST Co decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 29.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,518 shares of the financial services provider’s stock after selling 4,297 shares during the period. CENTRAL TRUST Co’s holdings in Charles Schwab were worth $682,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after acquiring an additional 225,397 shares during the last quarter. Allen Investment Management LLC lifted its position in Charles Schwab by 3.0% in the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after acquiring an additional 251,485 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock valued at $528,445,000 after purchasing an additional 596,589 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,001 shares of company stock valued at $12,512,592 in the last quarter. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Citigroup dropped their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Finally, Piper Sandler upped their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab has an average rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $71.82 on Friday. The Charles Schwab Co. has a 12 month low of $49.16 and a 12 month high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $127.64 billion, a P/E ratio of 30.05, a P/E/G ratio of 1.63 and a beta of 0.97. The company has a 50 day moving average of $65.60 and a 200 day moving average of $69.52.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the firm posted $0.77 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.