Sanctuary Advisors LLC lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 15.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 194,426 shares of the financial services provider's stock after selling 36,520 shares during the quarter. Sanctuary Advisors LLC's holdings in Charles Schwab were worth $12,601,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Benjamin Edwards Inc. boosted its holdings in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 5,937 shares during the period. Patten & Patten Inc. TN boosted its stake in shares of Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider's stock valued at $6,751,000 after buying an additional 63,463 shares during the period. Equity Investment Corp grew its position in Charles Schwab by 9.4% during the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider's stock worth $106,299,000 after buying an additional 140,643 shares in the last quarter. Teewinot Capital Advisers L.L.C. lifted its position in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider's stock valued at $57,122,000 after acquiring an additional 64,041 shares during the period. Finally, Iowa State Bank grew its holdings in shares of Charles Schwab by 37.9% during the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider's stock worth $1,846,000 after purchasing an additional 7,829 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.
Insider Buying and Selling at Charles Schwab
In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company's stock, valued at approximately $4,396,116,784.92. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,968 shares of company stock valued at $9,419,271 over the last three months. 6.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
SCHW has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Charles Schwab from $75.00 to $90.00 and gave the company an "equal weight" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Barclays raised shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $74.00 to $95.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $86.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $79.75.
Get Our Latest Research Report on Charles Schwab
Charles Schwab Stock Performance
NYSE:SCHW traded down $3.31 during trading on Friday, reaching $79.54. The company's stock had a trading volume of 14,089,420 shares, compared to its average volume of 8,017,958. The Charles Schwab Co. has a 12 month low of $59.67 and a 12 month high of $83.35. The firm has a market cap of $141.55 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The firm has a 50 day moving average of $75.84 and a 200-day moving average of $70.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date was Friday, November 8th. Charles Schwab's dividend payout ratio (DPR) is currently 39.06%.
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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