Legacy Capital Wealth Partners LLC Lowers Position in The Charles Schwab Corporation $SCHW

Legacy Capital Wealth Partners LLC decreased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 34.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,228 shares of the financial services provider’s stock after selling 2,777 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Charles Schwab were worth $477,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Charles Schwab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after acquiring an additional 2,786,829 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after acquiring an additional 8,954,248 shares during the period. Geode Capital Management LLC raised its stake in Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after acquiring an additional 1,038,376 shares during the period. Franklin Resources Inc. lifted its holdings in Charles Schwab by 2.8% during the second quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after purchasing an additional 815,625 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Charles Schwab in the second quarter worth $1,889,858,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 1.2%

Shares of SCHW stock opened at $92.94 on Friday. 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 stock has a market capitalization of $165.14 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth 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. The stock’s 50-day moving average price is $93.79 and its 200-day moving average price is $92.98.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,482 shares of company stock worth $905,295 in the last 90 days. 6.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SCHW. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Morgan Stanley boosted their price objective on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Barclays increased their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Truist Financial lifted their target price on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, TD Cowen boosted their price target on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.45.

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.