TCW Group Inc. Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

TCW Group Inc. lessened its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 43.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 50,574 shares of the financial services provider's stock after selling 38,109 shares during the period. TCW Group Inc.'s holdings in Charles Schwab were worth $3,278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Diversified Trust Co grew its stake in Charles Schwab by 26.0% in the second quarter. Diversified Trust Co now owns 7,737 shares of the financial services provider's stock valued at $570,000 after purchasing an additional 1,595 shares during the last quarter. Swedbank AB grew its position in shares of Charles Schwab by 3.6% in the 2nd quarter. Swedbank AB now owns 583,562 shares of the financial services provider's stock worth $43,003,000 after buying an additional 20,411 shares during the last quarter. Fiduciary Financial Group LLC bought a new position in shares of Charles Schwab during the 2nd quarter worth approximately $3,697,000. Professional Financial Advisors LLC lifted its position in Charles Schwab by 1.9% during the second quarter. Professional Financial Advisors LLC now owns 19,063 shares of the financial services provider's stock valued at $1,405,000 after acquiring an additional 363 shares during the last quarter. Finally, Silver Lake Advisory LLC purchased a new position in Charles Schwab in the second quarter worth $744,000. 84.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price target on Charles Schwab from $75.00 to $90.00 and gave the stock an "equal weight" rating in a report on Thursday. Citigroup cut their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, September 27th. JMP Securities reiterated a "market outperform" rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research note on Monday. Finally, 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Charles Schwab has a consensus rating of "Hold" and an average price target of $79.75.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company's stock, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company's stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,968 shares of company stock worth $9,419,271 in the last three months. Company insiders own 6.60% of the company's stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.42 during trading on Thursday, hitting $82.83. 7,469,379 shares of the company's stock were exchanged, compared to its average volume of 7,992,711. The Charles Schwab Co. has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $147.41 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.77 and a beta of 0.96. The business has a 50-day simple moving average of $75.16 and a 200-day simple moving average of $70.32.

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, beating the consensus estimate of $0.75 by $0.02. The business 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 company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. On average, research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab's payout ratio is 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.