Hilltop Holdings Inc. Sells 5,459 Shares of The Charles Schwab Corporation $SCHW

Hilltop Holdings Inc. cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 47.1% during the first quarter, Holdings Channel reports. The fund owned 6,125 shares of the financial services provider’s stock after selling 5,459 shares during the quarter. Hilltop Holdings Inc.’s holdings in Charles Schwab were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Charles Schwab in the fourth quarter valued at about $1,994,189,000. Bank of New York Mellon Corp boosted its holdings in shares of Charles Schwab by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after buying an additional 3,009,884 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Charles Schwab by 9.7% during the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after buying an additional 2,066,884 shares during the period. Focus Partners Wealth grew its stake in Charles Schwab by 716.5% in the 4th quarter. Focus Partners Wealth now owns 2,101,463 shares of the financial services provider’s stock valued at $209,948,000 after buying an additional 1,844,095 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Charles Schwab in the 1st quarter valued at about $129,140,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SCHW shares. Zacks Research upgraded Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Raymond James Financial reiterated an “outperform” rating and set a $145.00 target price on shares of Charles Schwab in a research note on Wednesday, July 22nd. Wolfe Research restated an “outperform” rating and issued a $127.00 price target on shares of Charles Schwab in a research note on Tuesday, July 21st. Barclays upped their price objective on Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Finally, TD Cowen increased their price objective on Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $119.94.

Charles Schwab Stock Up 2.2%

Shares of SCHW opened at $104.19 on Tuesday. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $107.50. The firm’s 50 day moving average is $94.17 and its 200-day moving average is $95.34. The stock has a market capitalization of $181.19 billion, a PE ratio of 18.94, a P/E/G ratio of 0.83 and a beta of 0.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. Equities research analysts forecast that The Charles Schwab Corporation will post 6.43 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 23.27%.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $100.01, for a total transaction of $200,020.00. Following the completion of the sale, the insider owned 13,738 shares of the company’s stock, valued at $1,373,937.38. This represents a 12.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.30% of the stock is currently owned by company insiders.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.