First Trust Advisors LP Sells 135,632 Shares of Charles Schwab Co. (NYSE:SCHW)

First Trust Advisors LP cut its holdings in Charles Schwab Co. (NYSE:SCHW) by 37.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,570 shares of the financial services provider’s stock after selling 135,632 shares during the period. First Trust Advisors LP’s holdings in Charles Schwab were worth $7,543,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its holdings in Charles Schwab by 5.7% in the first quarter. BlackRock Inc. now owns 91,681,742 shares of the financial services provider’s stock worth $3,082,342,000 after purchasing an additional 4,903,256 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Charles Schwab by 227.0% in the first quarter. Wellington Management Group LLP now owns 34,307,522 shares of the financial services provider’s stock worth $1,153,419,000 after purchasing an additional 23,815,930 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Charles Schwab by 22.5% in the first quarter. JPMorgan Chase & Co. now owns 30,345,188 shares of the financial services provider’s stock worth $1,020,205,000 after purchasing an additional 5,568,071 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Charles Schwab by 18.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 16,995,456 shares of the financial services provider’s stock worth $571,386,000 after purchasing an additional 2,646,859 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Charles Schwab by 11.9% in the first quarter. Alliancebernstein L.P. now owns 16,439,037 shares of the financial services provider’s stock worth $552,680,000 after purchasing an additional 1,750,629 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

A number of research firms have issued reports on SCHW. Citigroup upped their price target on shares of Charles Schwab from $38.00 to $38.50 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Compass Point cut shares of Charles Schwab from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Wednesday, May 20th. TheStreet cut shares of Charles Schwab from a “b-” rating to a “c” rating in a report on Monday, July 27th. Cfra decreased their price target on shares of Charles Schwab from $55.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Finally, Argus decreased their price target on shares of Charles Schwab from $54.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Charles Schwab has an average rating of “Hold” and an average price target of $42.50.

NYSE SCHW opened at $33.15 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a 50-day simple moving average of $34.61 and a 200 day simple moving average of $37.89. Charles Schwab Co. has a twelve month low of $28.00 and a twelve month high of $51.65. The stock has a market cap of $43.23 billion, a PE ratio of 13.93 and a beta of 1.25.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Charles Schwab had a net margin of 31.48% and a return on equity of 16.88%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Research analysts forecast that Charles Schwab Co. will post 2.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, August 6th. Charles Schwab’s dividend payout ratio (DPR) is presently 26.47%.

In related news, Chairman Charles R. Schwab sold 65,056 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $33.19, for a total value of $2,159,208.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan M. Craig sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $40.02, for a total transaction of $437,618.70. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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