World Asset Management Inc cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,724 shares of the financial services provider’s stock after selling 4,361 shares during the quarter. World Asset Management Inc’s holdings in Charles Schwab were worth $2,165,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Charles Schwab during the third quarter worth approximately $26,000. Annapolis Financial Services LLC grew its holdings in Charles Schwab by 135.5% during the third quarter. Annapolis Financial Services LLC now owns 365 shares of the financial services provider’s stock worth $27,000 after buying an additional 210 shares in the last quarter. American National Bank bought a new stake in Charles Schwab during the third quarter worth $28,000. Total Clarity Wealth Management Inc. bought a new position in Charles Schwab in the 3rd quarter valued at $29,000. Finally, Destiny Wealth Partners LLC bought a new position in Charles Schwab in the 3rd quarter valued at $34,000. 71.35% of the stock is currently owned by hedge funds and other institutional investors.
In other Charles Schwab news, EVP Bernard J. Clark sold 300 shares of Charles Schwab stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $84.00, for a total transaction of $25,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 13,000 shares of Charles Schwab stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $80.34, for a total value of $1,044,420.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,185,428 shares of company stock valued at $97,611,276. Company insiders own 7.50% of the company’s stock.
Shares of SCHW traded up $0.44 during mid-day trading on Friday, reaching $93.82. 29,753 shares of the company’s stock traded hands, compared to its average volume of 8,672,975. The stock has a market cap of $169.94 billion, a P/E ratio of 35.51, a P/E/G ratio of 0.95 and a beta of 1.04. The stock’s 50-day moving average is $83.51 and its two-hundred day moving average is $77.09. The Charles Schwab Co. has a 12 month low of $50.76 and a 12 month high of $95.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.37 and a quick ratio of 0.37.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 14th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Charles Schwab had a return on equity of 13.53% and a net margin of 30.08%. Charles Schwab’s revenue was up 86.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Research analysts predict that The Charles Schwab Co. will post 3.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 26th. Stockholders of record on Friday, November 12th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, November 10th. This represents a $0.72 annualized dividend and a dividend yield of 0.77%. Charles Schwab’s dividend payout ratio is presently 27.38%.
SCHW has been the subject of several research reports. Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a research note on Tuesday, December 7th. Citigroup increased their price objective on Charles Schwab from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 22nd. Jefferies Financial Group raised their price target on Charles Schwab from $89.00 to $96.00 and gave the company a “buy” rating in a report on Friday, October 22nd. UBS Group raised their price target on Charles Schwab from $83.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, January 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $120.00 to $122.00 in a report on Thursday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $92.44.
Charles Schwab Company Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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