Oppenheimer & Co. Inc. lowered its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 24.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,308 shares of the financial services provider's stock after selling 32,610 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Charles Schwab were worth $6,501,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Alliance Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 142 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in 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 last quarter. Arcataur Capital Management LLC increased its stake in shares of Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider's stock worth $431,000 after purchasing an additional 150 shares during the last quarter. Tandem Capital Management Corp ADV raised 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 purchasing an additional 150 shares during the period. Finally, Ascent Wealth Partners LLC lifted its stake 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. Institutional investors own 84.38% of the company's stock.
Charles Schwab Price Performance
Shares of NYSE SCHW traded up $0.19 during trading hours on Friday, hitting $80.38. 3,733,363 shares of the stock were exchanged, compared to its average volume of 8,081,837. The Charles Schwab Co. has a 1-year low of $55.09 and a 1-year high of $82.50. The company has a market cap of $143.05 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.47. The company's fifty day simple moving average is $68.38 and its two-hundred day simple moving average is $69.62.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current year.
Charles Schwab Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab's dividend payout ratio (DPR) is currently 39.06%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on SCHW. Wells Fargo & Company upped their price objective on Charles Schwab from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $76.00 to $81.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Jefferies Financial Group decreased their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, October 4th. JMP Securities raised their target price 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, Bank of America decreased their price target on shares of Charles Schwab from $63.00 to $61.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $74.18.
Read Our Latest Analysis on SCHW
Insider Activity at Charles Schwab
In other 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,645 shares of company stock worth $7,440,627 over the last three months. Company insiders own 6.60% of the company's stock.
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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