The Charles Schwab Corporation $SCHW Shares Sold by London Co. of Virginia

London Co. of Virginia lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 13.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,569,280 shares of the financial services provider’s stock after selling 536,713 shares during the period. Charles Schwab comprises about 2.1% of London Co. of Virginia’s investment portfolio, making the stock its 13th biggest holding. London Co. of Virginia’s holdings in Charles Schwab were worth $335,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SCHW. Brookwood Investment Group LLC boosted its stake in Charles Schwab by 192.6% during the 4th quarter. Brookwood Investment Group LLC now owns 12,236 shares of the financial services provider’s stock valued at $1,222,000 after purchasing an additional 8,054 shares during the period. Juno Financial Group LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $2,591,000. Swiss Life Asset Management Ltd increased its stake in shares of Charles Schwab by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock valued at $40,681,000 after purchasing an additional 16,482 shares during the period. Geode Capital Management LLC raised its holdings in shares of Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after buying an additional 98,242 shares during the last quarter. Finally, Busey Bank raised its holdings in shares of Charles Schwab by 15.5% during the fourth quarter. Busey Bank now owns 258,962 shares of the financial services provider’s stock valued at $25,873,000 after buying an additional 34,745 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

More Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab announced a quarterly common stock dividend of $0.32 per share, along with preferred stock dividends, reinforcing its capital-return story for income-focused investors. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Argus raised its price target on SCHW to $114 from $108 and kept a buy rating, signaling confidence in further upside. Argus raises Charles Schwab price target
• Positive Sentiment: Schwab was added to Zacks’ “Best Income Stocks to Buy” list, suggesting investors continue to view the company as an attractive income and quality financial-services name. Best Income Stocks to Buy for July 23rd
• Positive Sentiment: Recent coverage highlighted Schwab’s “dual beats” in its latest quarter, with earnings and revenue both coming in above expectations, adding to the bullish case after the July 21 report. Charles Schwab: Dual Beats And Attractive Preferreds
• Neutral Sentiment: Schwab also received media attention for its call for the CLARITY Act to pass, framing crypto regulation as a potential long-term industry catalyst, though the timing remains uncertain. Charles Schwab Calls CLARITY Act a Fundamental Catalyst

Analyst Ratings Changes

SCHW has been the subject of a number of recent analyst reports. Truist Financial decreased their price objective on Charles Schwab from $122.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Piper Sandler set a $118.00 target price on Charles Schwab in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a research note on Wednesday. Finally, Barclays raised their price target on Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned 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 price target of $119.76.

Charles Schwab Price Performance

NYSE SCHW opened at $101.92 on Friday. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $107.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $177.25 billion, a PE ratio of 18.53, a P/E/G ratio of 0.83 and a beta of 0.77. The company’s 50 day simple moving average is $93.93 and its 200 day simple moving average is $95.39.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.56 by $0.06. The firm had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 6.43 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.3%. Charles Schwab’s dividend payout ratio (DPR) is 23.27%.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the sale, the insider owned 13,738 shares in the company, valued at $1,373,937.38. This represents a 12.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total value of $228,312.00. Following the transaction, the director directly owned 177,508 shares of the company’s stock, valued at $16,082,224.80. This represents a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,520 shares of company stock worth $622,392 in the last three months. Company insiders own 6.30% of the company’s stock.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.