Legacy Capital Wealth Partners LLC Cuts Stake in The Charles Schwab Corporation $SCHW

by · The Markets Daily

Legacy Capital Wealth Partners LLC cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 34.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,228 shares of the financial services provider’s stock after selling 2,777 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Charles Schwab were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC grew its position in shares of Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after buying an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC purchased a new position in Charles Schwab during the 1st quarter valued at about $79,605,000. Figure 8 Investment Strategies LLC bought a new stake in Charles Schwab during the second quarter worth about $924,000. Independent Advisor Alliance grew its holdings in Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares during the period. Finally, PFG Investments LLC grew its holdings in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SCHW has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. TD Cowen raised their price objective on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Finally, Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One equities research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Check Out Our Latest Stock Analysis on Charles Schwab

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction 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. The trade was a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,482 shares of company stock valued at $905,295. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $92.94 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $165.14 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The business has a 50-day simple moving average of $93.79 and a two-hundred day simple moving average of $92.98. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter last year, the firm posted $0.71 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Charles Schwab Company Profile

(Free Report)

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.

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