The Charles Schwab Co. (NYSE:SCHW) Shares Sold by MAI Capital Management

MAI Capital Management cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 10.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 141,024 shares of the financial services provider's stock after selling 16,047 shares during the period. MAI Capital Management's holdings in Charles Schwab were worth $9,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC grew its stake in Charles Schwab by 2.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider's stock worth $347,000 after buying an additional 142 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings 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 valued at $25,000 after acquiring an additional 149 shares during the period. Arcataur Capital Management LLC grew its position in shares of Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider's stock worth $431,000 after acquiring an additional 150 shares during the last quarter. Tandem Capital Management Corp ADV increased its holdings in shares of Charles Schwab by 0.3% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider's stock valued at $3,210,000 after acquiring an additional 150 shares during the period. Finally, Ascent Wealth Partners LLC raised its position in Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider's stock valued at $1,721,000 after purchasing an additional 164 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded down $1.20 during trading on Tuesday, hitting $80.19. 6,115,376 shares of the stock were exchanged, compared to its average volume of 8,104,335. The company has a market cap of $142.71 billion, a PE ratio of 31.80, a P/E/G ratio of 1.76 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $69.10 and a two-hundred day moving average price of $69.64. The Charles Schwab Co. has a 12-month low of $55.42 and a 12-month high of $82.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its 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. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. On average, analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

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

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have commented on SCHW shares. StockNews.com upgraded shares of Charles Schwab from a "sell" rating to a "hold" rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Charles Schwab from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Barclays increased their price objective on Charles Schwab from $64.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $76.00 to $81.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, Raymond James decreased their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $74.18.

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.