The Charles Schwab Co. (NYSE:SCHW) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,035,568 shares of the financial services provider’s stock after selling 100,777 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Charles Schwab worth $131,925,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Charles Schwab by 4.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 39,956 shares of the financial services provider’s stock valued at $2,890,000 after buying an additional 1,850 shares during the period. Comerica Bank raised its position in shares of Charles Schwab by 0.7% during the 1st quarter. Comerica Bank now owns 366,519 shares of the financial services provider’s stock valued at $26,514,000 after buying an additional 2,491 shares during the period. Plato Investment Management Ltd raised its position in shares of Charles Schwab by 806.6% during the 1st quarter. Plato Investment Management Ltd now owns 23,898 shares of the financial services provider’s stock valued at $1,729,000 after buying an additional 21,262 shares during the period. New Covenant Trust Company N.A. purchased a new stake in shares of Charles Schwab during the 1st quarter valued at approximately $78,000. Finally, Kozak & Associates Inc. raised its position in shares of Charles Schwab by 5.9% during the 1st quarter. Kozak & Associates Inc. now owns 131,482 shares of the financial services provider’s stock valued at $10,261,000 after buying an additional 7,296 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Raymond James cut their target price on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Morgan Stanley boosted their target price on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Piper Sandler boosted their target price on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Cowen boosted their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.18.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’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 transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction 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. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,668 shares of company stock worth $9,230,648. 6.60% of the stock is owned by company insiders.

Charles Schwab Price Performance

Shares of SCHW opened at $82.22 on Wednesday. The firm has a fifty day moving average price of $71.28 and a 200 day moving average price of $69.85. The Charles Schwab Co. has a 1-year low of $55.59 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 stock has a market cap of $146.32 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.22%. Charles Schwab’s payout ratio is currently 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.