Bamco Inc. NY Trims Position in The Charles Schwab Corporation $SCHW

Bamco Inc. NY decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,051,368 shares of the financial services provider’s stock after selling 172,800 shares during the quarter. Charles Schwab makes up about 1.7% of Bamco Inc. NY’s portfolio, making the stock its 13th biggest holding. Bamco Inc. NY owned approximately 0.39% of Charles Schwab worth $643,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Charles Schwab by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after buying an additional 2,786,829 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after acquiring an additional 8,954,248 shares during the last quarter. State Street Corp grew its position in Charles Schwab by 0.7% in the second quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock worth $6,611,672,000 after acquiring an additional 531,329 shares during the period. Geode Capital Management LLC grew its position in Charles Schwab by 2.9% in the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after acquiring an additional 1,038,376 shares during the period. Finally, Franklin Resources Inc. increased its stake in Charles Schwab by 2.8% during the second quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock worth $2,740,479,000 after acquiring an additional 815,625 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Trading Down 0.4%

NYSE SCHW opened at $96.63 on Friday. 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 firm has a market cap of $171.71 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96. The firm has a 50 day simple moving average of $93.86 and a 200-day simple moving average of $93.40. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59.

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. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the business earned $0.71 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SCHW shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Truist Financial boosted their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. TD Cowen increased their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Morgan Stanley upped their price objective on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.