Primecap Management Co. CA Sells 22,385 Shares of The Charles Schwab Co. (NYSE:SCHW)

Primecap Management Co. CA lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,036,350 shares of the financial services provider’s stock after selling 22,385 shares during the period. Primecap Management Co. CA owned about 0.06% of Charles Schwab worth $67,166,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SCHW. Country Trust Bank purchased a new stake in shares of Charles Schwab in the 2nd quarter worth $26,000. Capital Performance Advisors LLP purchased a new stake in Charles Schwab in the third quarter worth about $25,000. Washington Trust Advisors Inc. grew its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Fortitude Family Office LLC increased its position in Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the period. Finally, American Capital Advisory LLC bought a new stake in shares of Charles Schwab in the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the transaction, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 5.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,929 shares of company stock worth $8,196,624 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $80.80 on Friday. The business has a fifty day moving average of $70.17 and a 200 day moving average of $69.82. The Charles Schwab Co. has a 1 year low of $55.42 and a 1 year high of $82.50. 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 firm has a market capitalization of $143.80 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts expect 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 will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SCHW. Piper Sandler lifted their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Jefferies Financial Group decreased their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, JMP Securities lifted their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.18.

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.