VELA Investment Management LLC Sells 3,146 Shares of The Charles Schwab Co. (NYSE:SCHW)

VELA Investment Management LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 11.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,344 shares of the financial services provider’s stock after selling 3,146 shares during the quarter. VELA Investment Management LLC’s holdings in Charles Schwab were worth $1,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Country Trust Bank bought a new position in Charles Schwab in the second quarter worth about $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC raised its position in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Charles Schwab during the second quarter valued at approximately $29,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Bernard J. Clark sold 8,164 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the transaction, the insider now owns 121,666 shares in the company, valued at approximately $9,124,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the transaction, the director now owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard J. Clark sold 8,164 shares of Charles Schwab stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the transaction, the insider now directly owns 121,666 shares in the company, valued at $9,124,950. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,800 shares of company stock worth $7,145,364. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. UBS Group cut their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group raised their target price on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, six have issued 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 target price of $74.00.

Charles Schwab Stock Down 0.3 %

Charles Schwab stock opened at $63.69 on Friday. The firm has a market cap of $113.27 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.22 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The stock has a fifty day simple moving average of $66.66 and a two-hundred day simple moving average of $70.07.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. Equities analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.57%. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Charles Schwab Profile

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.