Amundi Trims Stock Position in The Charles Schwab Corporation $SCHW

Amundi decreased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,744,025 shares of the financial services provider’s stock after selling 286,337 shares during the quarter. Amundi owned approximately 0.32% of Charles Schwab worth $524,659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SCS Capital Management LLC boosted its position in Charles Schwab by 23.2% in the 2nd quarter. SCS Capital Management LLC now owns 14,574 shares of the financial services provider’s stock worth $1,330,000 after purchasing an additional 2,744 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Charles Schwab by 112.3% in the 2nd quarter. Marshall Wace LLP now owns 2,031,878 shares of the financial services provider’s stock valued at $185,389,000 after purchasing an additional 1,075,014 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Charles Schwab by 0.3% during the second quarter. Epoch Investment Partners Inc. now owns 301,441 shares of the financial services provider’s stock worth $27,503,000 after buying an additional 967 shares in the last quarter. GeoWealth Management LLC grew its position in Charles Schwab by 1.4% during the second quarter. GeoWealth Management LLC now owns 14,848 shares of the financial services provider’s stock valued at $1,355,000 after buying an additional 202 shares during the period. Finally, Veltria Advisors Corp. increased its holdings in Charles Schwab by 18.1% in the second quarter. Veltria Advisors Corp. now owns 6,524 shares of the financial services provider’s stock valued at $595,000 after buying an additional 1,000 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Bank of America upped their price target on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, BMO Capital Markets started coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Trading Up 1.1%

Shares of SCHW stock opened at $95.02 on Friday. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s fifty day moving average is $93.76 and its two-hundred day moving average is $93.10. The firm has a market capitalization of $168.84 billion, a P/E ratio of 22.25, a PEG ratio of 0.83 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab 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.