Gemmer Asset Management LLC Sells 2,927 Shares of The Charles Schwab Co. (NYSE:SCHW)

Gemmer Asset Management LLC lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 21.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,574 shares of the financial services provider’s stock after selling 2,927 shares during the quarter. Gemmer Asset Management LLC’s holdings in Charles Schwab were worth $779,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SCHW. Morningstar Investment Services LLC boosted its holdings in shares of Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. Brown Advisory Inc. boosted its stake in Charles Schwab by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after buying an additional 857,734 shares during the last quarter. M&G Plc purchased a new position in Charles Schwab during the 1st quarter valued at approximately $11,452,000. Retirement Systems of Alabama increased its stake in Charles Schwab by 13.0% in the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock worth $91,462,000 after acquiring an additional 152,967 shares during the last quarter. Finally, Wright Investors Service Inc. raised its holdings in shares of Charles Schwab by 9.3% during the 4th quarter. Wright Investors Service Inc. now owns 47,164 shares of the financial services provider’s stock worth $3,245,000 after acquiring an additional 4,001 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $78.41, for a total transaction of $705,690.00. Following the sale, the director now owns 574,257 shares of the company’s stock, valued at $45,027,491.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The disclosure for this sale can be found here. Insiders sold a total of 181,911 shares of company stock valued at $12,541,978 over the last quarter. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded up $0.72 during midday trading on Tuesday, reaching $62.49. 8,772,990 shares of the company’s stock traded hands, compared to its average volume of 7,993,604. The company has a market cap of $111.06 billion, a P/E ratio of 25.79, a PEG ratio of 1.18 and a beta of 0.99. The company has a fifty day simple moving average of $69.86 and a two-hundred day simple moving average of $70.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter last year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Co. will post 3.07 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.60%. Charles Schwab’s payout ratio is 41.84%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SCHW shares. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley dropped their price target on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $76.00 to $84.00 in a research report on Monday, July 8th. Jefferies Financial Group lifted their target price on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Finally, Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and cut 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, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $74.27.

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.