Los Angeles Capital Management LLC Sells 987,315 Shares of The Charles Schwab Co. (NYSE:SCHW)

Los Angeles Capital Management LLC cut its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 99.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,461 shares of the financial services provider's stock after selling 987,315 shares during the period. Los Angeles Capital Management LLC's holdings in Charles Schwab were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. River Global Investors LLP grew its position in shares of Charles Schwab by 6.2% in the 3rd quarter. River Global Investors LLP now owns 32,825 shares of the financial services provider's stock valued at $2,128,000 after purchasing an additional 1,924 shares during the period. Baker Avenue Asset Management LP boosted its holdings in shares of Charles Schwab by 0.3% in the third quarter. Baker Avenue Asset Management LP now owns 119,516 shares of the financial services provider's stock valued at $7,746,000 after buying an additional 396 shares during the period. Legacy Capital Wealth Partners LLC increased its position in shares of Charles Schwab by 7.6% during the third quarter. Legacy Capital Wealth Partners LLC now owns 8,290 shares of the financial services provider's stock worth $537,000 after acquiring an additional 586 shares in the last quarter. Eagle Bluffs Wealth Management LLC raised its holdings in shares of Charles Schwab by 1.2% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 38,808 shares of the financial services provider's stock worth $2,515,000 after acquiring an additional 457 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its position in Charles Schwab by 0.4% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 138,813 shares of the financial services provider's stock valued at $8,996,000 after acquiring an additional 488 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $76.00 to $81.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Barclays lifted their target price on Charles Schwab from $64.00 to $74.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Bank of America lowered their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an "underperform" rating on the stock in a report on Wednesday, October 16th. Finally, Piper Sandler increased their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.18.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded up $0.45 during mid-day trading on Friday, reaching $80.64. 9,372,796 shares of the company were exchanged, compared to its average volume of 7,978,346. The Charles Schwab Co. has a twelve month low of $55.09 and a twelve month high of $82.50. The stock has a market capitalization of $143.51 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.76 and a beta of 0.96. The company's 50-day simple moving average is $68.74 and its 200-day simple moving average is $69.63. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. Charles Schwab's payout ratio is presently 39.06%.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was 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 directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,645 shares of company stock worth $7,440,627. Corporate insiders own 6.60% of the company's stock.

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.