Natixis Reduces Stake in The Charles Schwab Corporation $SCHW

Natixis cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 67.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 92,703 shares of the financial services provider’s stock after selling 193,429 shares during the quarter. Natixis’ holdings in Charles Schwab were worth $8,458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Norges Bank purchased a new position in Charles Schwab during the 2nd quarter valued at $1,889,858,000. Wellington Management Group LLP boosted its stake in shares of Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after purchasing an additional 13,262,309 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after buying an additional 8,954,248 shares during the period. Brown Advisory Inc. increased its position in shares of Charles Schwab by 88.4% during the second quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock valued at $1,109,687,000 after buying an additional 5,708,208 shares during the period. Finally, Primecap Management Co. CA raised its stake in Charles Schwab by 35.9% in the second quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after buying an additional 5,032,728 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SCHW shares. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Truist Financial raised 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. BMO Capital Markets initiated coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.11.

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Charles Schwab stock opened at $94.17 on Wednesday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $167.34 billion, a P/E ratio of 22.05, a PEG ratio of 0.84 and a beta of 0.96. The stock’s 50 day moving average is $93.65 and its 200 day moving average is $93.30.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

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.