Massachusetts Financial Services Co. MA Lowers Holdings in The Charles Schwab Corporation $SCHW

Massachusetts Financial Services Co. MA cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,405,261 shares of the financial services provider’s stock after selling 2,121,852 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.01% of Charles Schwab worth $1,679,296,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab in the second quarter valued at approximately $25,000. RMG Wealth Management LLC purchased a new stake in shares of Charles Schwab during the second quarter worth about $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 buying an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Charles Schwab during the 1st quarter worth approximately $31,000. Finally, Activest Wealth Management lifted its position in shares of Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on SCHW. TD Cowen upped their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Barclays upped their price objective on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.37 on Friday. The firm has a fifty day moving average price of $94.06 and a 200 day moving average price of $92.35. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market cap of $167.70 billion, a P/E ratio of 22.10, a PEG ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59.

Charles Schwab (NYSE:SCHW) last announced 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 for 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 21.26%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. Sell-side analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its board has initiated a stock repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

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 stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 68,938 shares of company stock valued at $6,671,953. 6.30% of the stock is owned by insiders.

About Charles Schwab

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.