Rockefeller Capital Management L.P. Sells 39,865 Shares of The Charles Schwab Co. (NYSE:SCHW)

Rockefeller Capital Management L.P. reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 13.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,203 shares of the financial services provider's stock after selling 39,865 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Charles Schwab were worth $17,257,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. grew its position in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock worth $25,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the third quarter valued at $25,000. Country Trust Bank purchased a new stake in Charles Schwab during the 2nd quarter valued at about $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab in the second quarter worth about $27,000. Finally, Fortitude Family Office LLC lifted its stake in Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 192 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded down $1.36 on Monday, reaching $81.40. 5,657,856 shares of the company were exchanged, compared to its average volume of 8,044,076. The company's 50-day moving average is $72.37 and its two-hundred day moving average is $69.97. The firm has a market cap of $144.86 billion, a price-to-earnings ratio of 31.79, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Friday, November 22nd. Investors 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 yield of 1.23%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab's payout ratio is 39.06%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SCHW. The Goldman Sachs Group lifted their price target on Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Barclays boosted their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $86.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. JMP Securities boosted their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 16th. Finally, Citigroup decreased their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a "neutral" rating for the company in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $75.56.

Insider Activity

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the firm's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the director now owns 554,929 shares of the company's stock, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,968 shares of company stock valued at $9,419,271 over the last three months. 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.