Spectrum Financial Alliance Ltd LLC cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 22.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,155 shares of the financial services provider's stock after selling 30,427 shares during the period. Charles Schwab comprises approximately 2.5% of Spectrum Financial Alliance Ltd LLC's holdings, making the stock its 10th largest holding. Spectrum Financial Alliance Ltd LLC's holdings in Charles Schwab were worth $6,945,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of SCHW. Country Trust Bank acquired a new position in Charles Schwab during the 2nd quarter worth $26,000. American Capital Advisory LLC acquired a new position in Charles Schwab during the 2nd quarter worth $27,000. Fortitude Family Office LLC lifted its stake in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 192 shares during the period. CGC Financial Services LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $29,000. 84.38% of the stock is currently owned by institutional investors.
Charles Schwab Stock Performance
Shares of Charles Schwab stock traded down $0.55 during trading on Friday, hitting $71.36. 8,948,366 shares of the stock were exchanged, compared to its average volume of 8,117,904. The stock has a market capitalization of $126.91 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average price of $64.97 and a 200-day moving average price of $69.51. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. As a group, equities analysts predict that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab's dividend payout ratio is currently 41.49%.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the business's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company's stock, valued at $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business's stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now owns 551,329 shares of the company's stock, valued at $39,783,900.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,001 shares of company stock valued at $12,512,592 in the last quarter. Company insiders own 6.60% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Charles Schwab from $79.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company increased their price target on Charles Schwab from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their price target on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Raymond James lowered their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, StockNews.com raised Charles Schwab from a "sell" rating to a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Hold" and a consensus target price of $73.59.
Get Our Latest Stock Report on SCHW
About Charles Schwab
(
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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