The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Holocene Advisors LP

Holocene Advisors LP lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 73.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 233,516 shares of the financial services provider’s stock after selling 649,001 shares during the quarter. Holocene Advisors LP’s holdings in Charles Schwab were worth $15,134,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SCHW. Mather Group LLC. increased its stake in shares of Charles Schwab by 19.4% during the second quarter. Mather Group LLC. now owns 6,535 shares of the financial services provider’s stock worth $473,000 after buying an additional 1,062 shares during the period. NBC Securities Inc. lifted its holdings in shares of Charles Schwab by 5.3% during the second quarter. NBC Securities Inc. now owns 14,350 shares of the financial services provider’s stock worth $1,057,000 after purchasing an additional 726 shares during the period. Simplicity Wealth LLC lifted its holdings in Charles Schwab by 16.7% in the second quarter. Simplicity Wealth LLC now owns 30,431 shares of the financial services provider’s stock valued at $2,242,000 after acquiring an additional 4,364 shares during the period. Fortitude Family Office LLC lifted its holdings in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the period. Finally, Csenge Advisory Group lifted its holdings in Charles Schwab by 11.8% in the second quarter. Csenge Advisory Group now owns 8,082 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 856 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $81.12 on Wednesday. The company has a market capitalization of $144.37 billion, a price-to-earnings ratio of 31.69, a P/E/G ratio of 1.76 and a beta of 0.96. The firm’s 50 day simple moving average is $73.02 and its 200 day simple moving average is $70.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $59.67 and a fifty-two week high of $83.35.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Citigroup reduced their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Bank of America reduced their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Piper Sandler boosted their price target on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upped their target price on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.56.

Insider Activity

In related news, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares of the company’s stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,968 shares of company stock worth $9,419,271 over the last ninety days. Insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.