Sanctuary Advisors LLC Lowers Holdings in The Charles Schwab Co. (NYSE:SCHW)

Sanctuary Advisors LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 15.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 194,426 shares of the financial services provider’s stock after selling 36,520 shares during the quarter. Sanctuary Advisors LLC’s holdings in Charles Schwab were worth $12,601,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp grew its position in shares of Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the period. Geode Capital Management LLC grew its holdings in Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after purchasing an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after buying an additional 1,711,312 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Charles Schwab by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after buying an additional 493,264 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Charles Schwab by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after buying an additional 225,397 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Piper Sandler boosted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on Charles Schwab from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average target price of $79.75.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on 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 owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Trading Down 4.0 %

Shares of SCHW stock opened at $79.54 on Friday. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35. The stock has a market cap of $141.55 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 1.79 and a beta of 0.96. The company’s 50-day moving average price is $75.84 and its 200-day moving average price is $70.46. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

About Charles Schwab

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.