Parnassus Investments LLC Has $109.83 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Parnassus Investments LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,694,634 shares of the financial services provider's stock after buying an additional 66,876 shares during the quarter. Parnassus Investments LLC owned about 0.10% of Charles Schwab worth $109,829,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Country Trust Bank bought a new position in Charles Schwab during the 2nd quarter worth $26,000. Capital Performance Advisors LLP bought a new position in shares of Charles Schwab in the third quarter worth $25,000. Washington Trust Advisors Inc. grew its stake in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock worth $25,000 after purchasing an additional 149 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider's stock worth $29,000 after purchasing an additional 192 shares in the last quarter. Finally, American Capital Advisory LLC bought a new position in shares of Charles Schwab in the second quarter worth $27,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Down 1.5 %

Shares of NYSE SCHW traded down $1.21 during mid-day trading on Tuesday, hitting $80.18. 6,546,123 shares of the company traded hands, compared to its average volume of 8,106,258. The business has a 50 day moving average of $69.10 and a two-hundred day moving average of $69.64. The stock has a market capitalization of $142.69 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.76 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 1 year low of $55.42 and a 1 year high of $82.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, November 8th. Charles Schwab's dividend payout ratio is currently 39.06%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SCHW shares. Jefferies Financial Group decreased their price target on Charles Schwab from $79.00 to $73.00 and set a "buy" rating for the company in a research note on Friday, October 4th. Barclays increased their price target on Charles Schwab from $64.00 to $74.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Raymond James decreased their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Bank of America decreased their target price on Charles Schwab from $63.00 to $61.00 and set an "underperform" rating for the company in a research note on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on Charles Schwab from $68.00 to $74.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $74.18.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company's stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,645 shares of company stock valued at $7,440,627. Corporate insiders own 6.60% of the company's stock.

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.