Golden State Equity Partners Has $698,000 Position in The Charles Schwab Co. (NYSE:SCHW)

by · The Cerbat Gem

Golden State Equity Partners lowered its holdings in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 42.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,766 shares of the financial services provider’s stock after selling 7,904 shares during the period. Golden State Equity Partners’ holdings in Charles Schwab were worth $698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after buying an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Charles Schwab by 2.1% in the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after buying an additional 225,397 shares during the last quarter. Allen Investment Management LLC raised its holdings in shares of Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after buying an additional 251,485 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Charles Schwab by 8.9% in the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock valued at $528,445,000 after buying an additional 596,589 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays lifted their price target on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. TD Cowen reissued a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.94.

View Our Latest Report on SCHW

Insider Activity at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,465 shares of company stock worth $8,050,109. Company insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 1.1 %

Shares of Charles Schwab stock opened at $71.10 on Thursday. The Charles Schwab Co. has a 12-month low of $50.30 and a 12-month high of $79.49. The stock has a market cap of $126.36 billion, a P/E ratio of 29.75, a P/E/G ratio of 1.65 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $66.13 and its 200-day moving average is $69.52.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

About Charles Schwab

(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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