Gemmer Asset Management LLC Sells 645 Shares of The Charles Schwab Corporation $SCHW

Gemmer Asset Management LLC lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,958 shares of the financial services provider’s stock after selling 645 shares during the period. Gemmer Asset Management LLC’s holdings in Charles Schwab were worth $909,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bain Capital Public Equity Management II LLC bought a new stake in Charles Schwab in the 1st quarter valued at approximately $79,605,000. Independent Advisor Alliance lifted its stake in Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after acquiring an additional 68,858 shares in the last quarter. PFG Investments LLC lifted its stake in Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 550 shares in the last quarter. Finally, United Services Automobile Association lifted its stake in Charles Schwab by 14.1% in the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock valued at $3,074,000 after acquiring an additional 4,869 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 1.5%

Shares of Charles Schwab stock opened at $94.13 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $170.87 billion, a P/E ratio of 25.30, a P/E/G ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a 12-month low of $64.07 and a 12-month high of $99.59. The business’s 50 day moving average is $95.37 and its 200-day moving average is $88.64.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 EPS. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its Board of Directors has approved a share repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s payout ratio is presently 29.03%.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last three months. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research reports. JMP Securities boosted their target price on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. BMO Capital Markets initiated coverage on Charles Schwab in a research note on Friday. They issued an “outperform” rating and a $110.00 target price on the stock. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, Barclays upped their price objective on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.52.

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.