GCM Grosvenor Holdings LLC Trims Holdings in The Charles Schwab Corporation $SCHW

by · The Cerbat Gem

GCM Grosvenor Holdings LLC cut its holdings in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,833 shares of the financial services provider’s stock after selling 18,167 shares during the period. Charles Schwab makes up 2.5% of GCM Grosvenor Holdings LLC’s portfolio, making the stock its 4th largest position. GCM Grosvenor Holdings LLC’s holdings in Charles Schwab were worth $17,594,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SCHW. Princeton Global Asset Management LLC bought a new position in Charles Schwab during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab in the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares during the period. Activest Wealth Management raised its holdings in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. Finally, Hoese & Co LLP boosted its position in Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Shares of SCHW stock opened at $96.63 on Friday. The business’s fifty day moving average is $93.86 and its 200 day moving average is $93.40. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $171.71 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. Research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SCHW shares. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.37.

View Our Latest Research Report on Charles Schwab

Charles Schwab Company Profile

(Free Report)

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.

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