The Charles Schwab Co. (NYSE:SCHW) Shares Sold by abrdn plc

abrdn plc reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 16.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,931,934 shares of the financial services provider’s stock after selling 762,538 shares during the quarter. abrdn plc owned 0.22% of The Charles Schwab worth $286,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Portfolio Strategies Group LLC boosted its stake in The Charles Schwab by 12.1% during the 1st quarter. Princeton Portfolio Strategies Group LLC now owns 44,264 shares of the financial services provider’s stock valued at $2,885,000 after purchasing an additional 4,770 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in The Charles Schwab by 30.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 7,168,205 shares of the financial services provider’s stock valued at $467,224,000 after purchasing an additional 1,664,240 shares in the last quarter. National Pension Service boosted its stake in The Charles Schwab by 5.6% during the 1st quarter. National Pension Service now owns 2,039,597 shares of the financial services provider’s stock valued at $132,941,000 after purchasing an additional 107,945 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in The Charles Schwab by 1.1% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 181,281 shares of the financial services provider’s stock valued at $11,816,000 after purchasing an additional 1,991 shares in the last quarter. Finally, MUFG Americas Holdings Corp boosted its stake in The Charles Schwab by 2.5% during the 2nd quarter. MUFG Americas Holdings Corp now owns 265,155 shares of the financial services provider’s stock valued at $19,305,000 after purchasing an additional 6,455 shares in the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.

NYSE SCHW traded up $1.32 during trading on Wednesday, hitting $71.05. 139,064 shares of the company traded hands, compared to its average volume of 7,340,597. The company has a market capitalization of $128.39 billion, a P/E ratio of 29.42 and a beta of 1.05. The business has a fifty day simple moving average of $71.08 and a 200 day simple moving average of $69.99. The Charles Schwab Co. has a 12 month low of $33.79 and a 12 month high of $76.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.39.

The Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, July 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.46 billion. The Charles Schwab had a net margin of 28.88% and a return on equity of 12.89%. The company’s revenue for the quarter was up 84.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 earnings per share. Equities research analysts predict that The Charles Schwab Co. will post 3.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Thursday, August 12th. The Charles Schwab’s dividend payout ratio is currently 29.39%.

Several research firms have recently weighed in on SCHW. Zacks Investment Research lowered The Charles Schwab from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a research note on Tuesday, June 15th. The Goldman Sachs Group lowered The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 price objective for the company. in a research note on Thursday, July 8th. Citigroup decreased their target price on The Charles Schwab from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on The Charles Schwab from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, July 23rd. Finally, JMP Securities raised their target price on The Charles Schwab from $83.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday, July 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, The Charles Schwab presently has an average rating of “Buy” and an average price target of $81.41.

In related news, Chairman Charles R. Schwab sold 28,000 shares of The Charles Schwab stock in a transaction dated Monday, June 28th. The stock was sold at an average price of $72.99, for a total transaction of $2,043,720.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 25,701 shares of The Charles Schwab stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $70.94, for a total value of $1,823,228.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 541,260 shares of company stock worth $39,392,289. 7.50% of the stock is currently owned by company insiders.

The Charles Schwab Profile

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

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Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

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