Mayflower Financial Advisors LLC Cuts Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Mayflower Financial Advisors LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,691 shares of the financial services provider’s stock after selling 519 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Charles Schwab were worth $524,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the period. Geode Capital Management LLC grew its holdings in Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after purchasing an additional 760,043 shares during the last quarter. Norges Bank purchased a new position in Charles Schwab in the fourth quarter worth $1,289,544,000. Northern Trust Corp grew its holdings in Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock worth $1,164,911,000 after purchasing an additional 1,864,286 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Charles Schwab by 3.0% in the fourth quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider’s stock worth $1,098,497,000 after purchasing an additional 430,250 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the sale, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the sale, the insider directly owned 35,864 shares of the company’s stock, valued at $3,261,830.80. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock worth $10,530,833 in the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 0.4%

Shares of NYSE:SCHW opened at $91.26 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $89.04 and a 200 day simple moving average of $81.76. The firm has a market cap of $165.82 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 0.97 and a beta of 0.93. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $93.35.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab’s payout ratio is currently 32.73%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Citigroup reaffirmed an “outperform” rating on shares of Charles Schwab in a report on Monday. Barclays lifted their price target on shares of Charles Schwab from $89.00 to $106.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $117.00 price target (up from $83.00) on shares of Charles Schwab in a report on Tuesday. Finally, Piper Sandler lifted their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.60.

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.