Los Angeles Capital Management LLC Sells 987,315 Shares of The Charles Schwab Co. (NYSE:SCHW)

Los Angeles Capital Management LLC decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 99.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,461 shares of the financial services provider’s stock after selling 987,315 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Charles Schwab were worth $548,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SCHW. Kingsview Wealth Management LLC grew its position in Charles Schwab by 26.3% in the first quarter. Kingsview Wealth Management LLC now owns 6,245 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 1,302 shares in the last quarter. Allstate Corp raised its holdings in Charles Schwab by 5.0% during the first quarter. Allstate Corp now owns 4,521 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 214 shares in the last quarter. Catalytic Wealth RIA LLC bought a new stake in Charles Schwab during the first quarter worth about $370,000. Lcnb Corp bought a new position in Charles Schwab in the first quarter valued at approximately $502,000. Finally, Secured Retirement Advisors LLC increased its position in shares of Charles Schwab by 10.1% during the 1st quarter. Secured Retirement Advisors LLC now owns 23,653 shares of the financial services provider’s stock worth $1,711,000 after purchasing an additional 2,175 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,645 shares of company stock worth $7,440,627. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays increased their price objective on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Raymond James reduced their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Finally, Piper Sandler upped their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.18.

Charles Schwab Stock Up 0.6 %

NYSE SCHW opened at $80.64 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a market cap of $143.51 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.71 and a beta of 0.96. The company has a 50 day moving average of $68.74 and a 200-day moving average of $69.66. The Charles Schwab Co. has a 1-year low of $55.09 and a 1-year high of $82.50.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. On average, equities research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Charles Schwab 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.