Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

by · The Markets Daily

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Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,560 shares of the financial services provider’s stock after selling 10,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Charles Schwab were worth $12,822,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SCHW. Cloverfields Capital Group LP lifted its position in shares of Charles Schwab by 11.5% during the first quarter. Cloverfields Capital Group LP now owns 50,785 shares of the financial services provider’s stock valued at $2,660,000 after buying an additional 5,246 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of Charles Schwab by 334.1% during the second quarter. Independent Advisor Alliance now owns 55,268 shares of the financial services provider’s stock valued at $3,133,000 after buying an additional 42,535 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in shares of Charles Schwab by 2.0% during the second quarter. Baker Tilly Wealth Management LLC now owns 11,729 shares of the financial services provider’s stock valued at $665,000 after buying an additional 229 shares during the last quarter. Beacon Pointe Advisors LLC lifted its position in shares of Charles Schwab by 54.2% during the second quarter. Beacon Pointe Advisors LLC now owns 135,940 shares of the financial services provider’s stock valued at $7,705,000 after buying an additional 47,792 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Charles Schwab by 21.4% during the second quarter. First Horizon Advisors Inc. now owns 3,839 shares of the financial services provider’s stock valued at $218,000 after buying an additional 677 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other news, CFO Peter B. Crawford sold 3,114 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $56.19, for a total transaction of $174,975.66. Following the sale, the chief financial officer now owns 41,611 shares of the company’s stock, valued at approximately $2,338,122.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Peter B. Crawford sold 3,114 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $56.19, for a total transaction of $174,975.66. Following the transaction, the chief financial officer now owns 41,611 shares in the company, valued at approximately $2,338,122.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 7,162 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $60.72, for a total value of $434,876.64. The disclosure for this sale can be found here. Insiders have sold 33,402 shares of company stock valued at $1,945,960 in the last 90 days. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on SCHW shares. JPMorgan Chase & Co. decreased their price target on shares of Charles Schwab from $92.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Redburn Atlantic began coverage on shares of Charles Schwab in a report on Friday, December 1st. They set a “sell” rating and a $52.00 price objective on the stock. Raymond James upped their price objective on shares of Charles Schwab from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 17th. Piper Sandler cut their price objective on shares of Charles Schwab from $86.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, October 9th. Finally, Barclays upped their price objective on shares of Charles Schwab from $55.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, October 17th. Four analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Charles Schwab has an average rating of “Hold” and a consensus target price of $69.44.

Check Out Our Latest Research Report on Charles Schwab

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $68.80 on Monday. The company has a market cap of $121.89 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 3.50 and a beta of 1.01. The Charles Schwab Co. has a twelve month low of $45.00 and a twelve month high of $86.63. The company’s 50 day moving average is $59.68 and its 200 day moving average is $58.77. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.87.

Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Charles Schwab had a net margin of 30.14% and a return on equity of 24.58%. The business’s revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.14 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. Charles Schwab’s payout ratio is 33.33%.

About Charles Schwab

(Free Report)

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. The company operates in two segments, Investor Services and Advisor Services.

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