Vima LLC Sells 35,726 Shares of The Charles Schwab Co. (NYSE:SCHW)

Vima LLC trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 76.6% during the second quarter, Holdings Channel reports. The institutional investor owned 10,921 shares of the financial services provider’s stock after selling 35,726 shares during the quarter. Charles Schwab makes up about 1.8% of Vima LLC’s investment portfolio, making the stock its 22nd biggest holding. Vima LLC’s holdings in Charles Schwab were worth $805,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nelson Capital Management LLC increased its position in Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after purchasing an additional 141 shares during the period. Abbrea Capital LLC lifted its holdings in Charles Schwab by 2.5% in the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after buying an additional 142 shares during the period. Ironwood Financial llc boosted its stake in Charles Schwab by 1.6% in the first quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 160 shares during the last quarter. Ascent Wealth Partners LLC grew its holdings in Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 164 shares during the period. Finally, Sculati Wealth Management LLC raised its position in shares of Charles Schwab by 0.4% during the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after acquiring an additional 165 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the sale, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Richard A. Wurster bought 10,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were bought at an average cost of $62.05 per share, with a total value of $620,500.00. Following the acquisition, the president now owns 144,228 shares in the company, valued at $8,949,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the transaction, the director now owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,636 shares of company stock valued at $6,533,064. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SCHW. JPMorgan Chase & Co. decreased their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Wells Fargo & Company began coverage on shares of Charles Schwab in a report on Thursday. They set an “equal weight” rating and a $70.00 price objective for the company. UBS Group cut their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, JMP Securities decreased their price target on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.75.

Charles Schwab Trading Up 0.6 %

NYSE:SCHW opened at $62.12 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The company has a market cap of $110.48 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The business has a 50 day moving average price of $65.33 and a two-hundred day moving average price of $70.00.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.61%. Charles Schwab’s payout ratio is presently 41.84%.

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.