Dakota Wealth Management Sells 2,877 Shares of The Charles Schwab Co. (NYSE:SCHW)

Dakota Wealth Management cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,785 shares of the financial services provider’s stock after selling 2,877 shares during the period. Dakota Wealth Management’s holdings in Charles Schwab were worth $2,643,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. M&G Plc bought a new stake in Charles Schwab in the 1st quarter worth about $11,452,000. Teewinot Capital Advisers L.L.C. grew its holdings in shares of Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after acquiring an additional 64,041 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Charles Schwab by 10.4% during the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after acquiring an additional 17,925 shares during the last quarter. Iowa State Bank boosted its position in Charles Schwab by 37.9% in the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares during the last quarter. Finally, Dudley & Shanley Inc. bought a new position in Charles Schwab in the 1st quarter valued at $13,650,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SCHW. TD Cowen reiterated a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Jefferies Financial Group decreased their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barclays upped their price objective on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Cowen boosted their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.94.

Insider Activity

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares of the company’s stock, valued at $36,594,597.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the sale, the insider now directly owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,001 shares of company stock worth $12,512,592. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $71.82 on Friday. The company has a 50 day moving average of $65.73 and a 200 day moving average of $69.51. 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 Charles Schwab Co. has a 12 month low of $49.16 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. During the same period in the previous year, the business earned $0.77 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s payout ratio is currently 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.