Adage Capital Partners GP L.L.C. Has $174.66 Million Stake in The Charles Schwab Corporation $SCHW

Adage Capital Partners GP L.L.C. cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 12.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,914,339 shares of the financial services provider’s stock after selling 269,700 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Charles Schwab worth $174,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Activest Wealth Management boosted its position in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares during the last quarter. Finally, Hoese & Co LLP boosted its position in Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by insiders.

Charles Schwab Trading Down 0.4%

Shares of NYSE:SCHW opened at $96.63 on Friday. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-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 company has a market capitalization of $171.71 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 0.81 and a beta of 0.96. The company has a 50-day simple moving average of $93.86 and a 200 day simple moving average of $93.40.

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

Charles Schwab Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. The Goldman Sachs Group restated a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Morgan Stanley raised their price objective on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Finally, UBS Group began coverage on Charles Schwab in a research report on Thursday. They issued a “buy” rating and a $119.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $108.37.

Charles Schwab Company 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.