Park Avenue Securities LLC Sells 892 Shares of The Charles Schwab Co. (NYSE:SCHW)

Park Avenue Securities LLC reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,998 shares of the financial services provider’s stock after selling 892 shares during the quarter. Park Avenue Securities LLC’s holdings in Charles Schwab were worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Olistico Wealth LLC increased its position in Charles Schwab by 78.5% during the second quarter. Olistico Wealth LLC now owns 7,508 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 3,301 shares during the last quarter. Dudley & Shanley Inc. increased its position in Charles Schwab by 24.8% during the second quarter. Dudley & Shanley Inc. now owns 235,483 shares of the financial services provider’s stock valued at $17,353,000 after acquiring an additional 46,788 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Charles Schwab during the second quarter valued at $146,000. Mather Group LLC. increased its position in Charles Schwab by 19.4% in the second quarter. Mather Group LLC. now owns 6,535 shares of the financial services provider’s stock worth $473,000 after buying an additional 1,062 shares in the last quarter. Finally, Tandem Capital Management Corp ADV increased its position in Charles Schwab by 0.7% in the second quarter. Tandem Capital Management Corp ADV now owns 49,387 shares of the financial services provider’s stock worth $3,615,000 after buying an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SCHW shares. Deutsche Bank Aktiengesellschaft reduced their price target on Charles Schwab from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. TD Cowen restated a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. StockNews.com cut Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. JMP Securities reduced their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, UBS Group reduced their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.27.

Charles Schwab Stock Down 0.8 %

SCHW stock traded down $0.53 on Wednesday, hitting $62.27. 7,330,453 shares of the company’s stock were exchanged, compared to its average volume of 8,032,110. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The firm has a 50 day moving average price of $70.64 and a two-hundred day moving average price of $70.04. 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 stock has a market cap of $110.67 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.65% and a net margin of 26.30%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the previous year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.09 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.61%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insiders Place Their Bets

In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of Charles Schwab stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of Charles Schwab stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $78.41, for a total value of $705,690.00. Following the completion of the transaction, the director now directly owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,586 shares of company stock valued at $19,570,869. 6.60% of the stock is owned by company insiders.

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.