Ensign Peak Advisors Inc Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Ensign Peak Advisors Inc trimmed its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,381,575 shares of the financial services provider's stock after selling 340,793 shares during the period. Charles Schwab makes up approximately 0.7% of Ensign Peak Advisors Inc's holdings, making the stock its 21st biggest holding. Ensign Peak Advisors Inc owned 0.30% of Charles Schwab worth $396,568,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SCHW. Summit Trail Advisors LLC lifted its stake in shares of Charles Schwab by 109.3% during the second quarter. Summit Trail Advisors LLC now owns 77,473 shares of the financial services provider's stock worth $5,709,000 after buying an additional 40,461 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Charles Schwab by 1.6% during the second quarter. Thrivent Financial for Lutherans now owns 1,955,289 shares of the financial services provider's stock worth $144,085,000 after buying an additional 30,897 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Charles Schwab by 4.6% during the second quarter. Pacer Advisors Inc. now owns 106,653 shares of the financial services provider's stock worth $7,859,000 after buying an additional 4,696 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Charles Schwab by 2.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 301,290 shares of the financial services provider's stock worth $22,202,000 after buying an additional 6,507 shares during the period. Finally, AE Wealth Management LLC lifted its stake in shares of Charles Schwab by 8.1% during the second quarter. AE Wealth Management LLC now owns 54,686 shares of the financial services provider's stock worth $4,030,000 after buying an additional 4,081 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 780 shares of the company's stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,355,175. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jonathan S. Beatty sold 780 shares of the company's stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,355,175. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Walter W. Bettinger bought 25,000 shares of the business's stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The disclosure for this purchase can be found here. Insiders have sold 99,636 shares of company stock worth $6,457,104 in the last ninety days. 6.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $80.00 price objective on shares of Charles Schwab in a research note on Thursday, August 22nd. JPMorgan Chase & Co. decreased their target price on shares of Charles Schwab from $82.00 to $78.00 and set an "overweight" rating for the company in a research report on Wednesday, July 17th. TD Cowen restated a "hold" rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. UBS Group decreased their target price on shares of Charles Schwab from $91.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, July 9th. Finally, Piper Sandler downgraded shares of Charles Schwab from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $73.75.

Charles Schwab Price Performance

Shares of SCHW stock traded up $0.63 on Friday, reaching $65.39. 12,332,380 shares of the company were exchanged, compared to its average volume of 8,109,705. The company has a market cap of $116.29 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 1.19 and a beta of 0.97. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The business has a 50-day moving average price of $64.28 and a 200 day moving average price of $69.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab's quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. Equities research analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.53%. Charles Schwab's payout ratio is 41.84%.

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.