Holocene Advisors LP Has $15.13 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Holocene Advisors LP reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 73.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 233,516 shares of the financial services provider’s stock after selling 649,001 shares during the quarter. Holocene Advisors LP’s holdings in Charles Schwab were worth $15,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Coastwise Capital Group LLC lifted its position in shares of Charles Schwab by 17.6% during the 3rd quarter. Coastwise Capital Group LLC now owns 6,050 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 907 shares during the period. Ascent Group LLC raised its stake in shares of Charles Schwab by 8.3% in the third quarter. Ascent Group LLC now owns 87,276 shares of the financial services provider’s stock worth $5,656,000 after purchasing an additional 6,697 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares during the last quarter. Aureus Asset Management LLC increased its position in shares of Charles Schwab by 2.4% during the third quarter. Aureus Asset Management LLC now owns 682,136 shares of the financial services provider’s stock valued at $44,209,000 after acquiring an additional 16,044 shares during the last quarter. Finally, Azora Capital LP purchased a new stake in shares of Charles Schwab during the third quarter valued at approximately $12,120,000. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,968 shares of company stock valued at $9,419,271 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

SCHW opened at $81.12 on Wednesday. The stock has a market cap of $144.37 billion, a P/E ratio of 31.69, a P/E/G ratio of 1.76 and a beta of 0.96. The firm has a fifty day moving average price of $73.02 and a 200 day moving average price of $70.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. Equities research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. JMP Securities raised their target price on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Raymond James reduced their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Piper Sandler lifted their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price objective on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.56.

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.