Summit Trail Advisors LLC Sells 10,122 Shares of The Charles Schwab Co. (NYSE:SCHW)

Summit Trail Advisors LLC lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 13.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,351 shares of the financial services provider’s stock after selling 10,122 shares during the quarter. Summit Trail Advisors LLC’s holdings in Charles Schwab were worth $4,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC grew its position in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after buying an additional 142 shares during the period. GS Investments Inc. grew its position in Charles Schwab by 0.3% during the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after buying an additional 146 shares during the period. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the period. Arcataur Capital Management LLC grew its position in Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after buying an additional 150 shares during the period. Finally, Tandem Capital Management Corp ADV grew its position in Charles Schwab by 0.3% during the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,929 shares of company stock worth $8,196,624 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cowen upped their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler upped their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.18.

Charles Schwab Trading Up 0.6 %

SCHW stock opened at $81.26 on Friday. The company has a market capitalization of $144.62 billion, a PE ratio of 31.74, a P/E/G ratio of 1.75 and a beta of 0.96. The Charles Schwab Co. has a 12 month low of $55.59 and a 12 month high of $82.50. The firm’s 50-day moving average is $70.55 and its 200 day moving average is $69.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its earnings results 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 net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business earned $0.77 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

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.