Rathbones Group PLC Cuts Position in The Charles Schwab Corporation $SCHW

Rathbones Group PLC decreased its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 8.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,800 shares of the financial services provider’s stock after selling 9,159 shares during the quarter. Rathbones Group PLC’s holdings in Charles Schwab were worth $9,473,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Souders Financial Advisors increased its position in shares of Charles Schwab by 2.3% in the fourth quarter. Souders Financial Advisors now owns 4,341 shares of the financial services provider’s stock valued at $434,000 after buying an additional 98 shares in the last quarter. Essex Financial Services Inc. increased its holdings in Charles Schwab by 0.8% in the 4th quarter. Essex Financial Services Inc. now owns 12,833 shares of the financial services provider’s stock worth $1,282,000 after acquiring an additional 105 shares in the last quarter. FSM Wealth Advisors LLC increased its holdings in Charles Schwab by 4.1% in the 4th quarter. FSM Wealth Advisors LLC now owns 2,688 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 107 shares in the last quarter. Sheets Smith Wealth Management raised its position in Charles Schwab by 0.7% during the first quarter. Sheets Smith Wealth Management now owns 14,521 shares of the financial services provider’s stock worth $1,365,000 after acquiring an additional 108 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV raised its position in Charles Schwab by 4.5% during the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,536 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, insider Dennis Howard sold 28,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the completion of the sale, the insider directly owned 10,470 shares in the company, valued at approximately $1,099,454.70. This trade represents a 72.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 93,408 shares of Charles Schwab stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $104.64, for a total transaction of $9,774,213.12. Following the transaction, the chairman directly owned 529,346 shares in the company, valued at $55,390,765.44. This trade represents a 15.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 363,848 shares of company stock valued at $37,874,706 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on SCHW. Zacks Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Jefferies Financial Group reduced their price target on shares of Charles Schwab from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Wolfe Research reiterated an “outperform” rating and set a $127.00 price objective on shares of Charles Schwab in a research note on Tuesday, July 21st. Finally, Morgan Stanley increased their target price on Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.17.

Charles Schwab Price Performance

NYSE:SCHW opened at $105.76 on Tuesday. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $107.50. The stock has a market cap of $183.94 billion, a PE ratio of 19.23, a P/E/G ratio of 0.80 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50 day moving average price of $95.64 and a 200 day moving average price of $95.48.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. Equities research analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s payout ratio is presently 23.27%.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.