Thrivent Financial for Lutherans Acquires 464,597 Shares of The Charles Schwab Co. (NYSE:SCHW)

Thrivent Financial for Lutherans boosted its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 23.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,419,886 shares of the financial services provider's stock after acquiring an additional 464,597 shares during the quarter. Thrivent Financial for Lutherans owned 0.14% of Charles Schwab worth $156,832,000 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 SCHW. Washington Trust Advisors Inc. lifted its position in Charles Schwab by 62.6% in the 3rd 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 in the last quarter. Capital Performance Advisors LLP purchased a new stake in Charles Schwab during the 3rd quarter valued at $25,000. Country Trust Bank purchased a new stake in Charles Schwab during the 2nd quarter valued at $26,000. American Capital Advisory LLC purchased a new stake in Charles Schwab during the 2nd quarter valued at $27,000. Finally, Fortitude Family Office LLC raised 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 buying an additional 192 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

SCHW stock traded up $0.45 during trading on Friday, reaching $80.64. The company's stock had a trading volume of 9,372,796 shares, compared to its average volume of 7,978,346. The Charles Schwab Co. has a 1 year low of $55.09 and a 1 year high of $82.50. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $143.51 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company's fifty day moving average is $68.74 and its 200-day moving average is $69.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business 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 posted $0.77 EPS. Charles Schwab's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 is Friday, November 8th. Charles Schwab's dividend payout ratio (DPR) is presently 39.06%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company's stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction 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 trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,645 shares of company stock valued at $7,440,627 in the last 90 days. Insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SCHW shares. Jefferies Financial Group decreased their target price on shares of Charles Schwab from $79.00 to $73.00 and set a "buy" rating for the company in a research note on Friday, October 4th. Bank of America decreased their target price on shares of Charles Schwab from $63.00 to $61.00 and set an "underperform" rating for the company in a research note 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 research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, Raymond James decreased their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Two 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $74.18.

About Charles Schwab

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.