RiverPark Advisors LLC reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 594,614 shares of the financial services provider’s stock after selling 114,731 shares during the quarter. The Charles Schwab comprises 3.4% of RiverPark Advisors LLC’s portfolio, making the stock its 14th biggest holding. RiverPark Advisors LLC’s holdings in The Charles Schwab were worth $26,008,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new stake in The Charles Schwab during the second quarter worth about $145,000. Fiduciary Trust Co. acquired a new stake in The Charles Schwab during the second quarter worth about $163,000. Paradigm Asset Management Co. LLC grew its position in The Charles Schwab by 4.7% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,450 shares of the financial services provider’s stock worth $191,000 after buying an additional 200 shares in the last quarter. Quadrant Capital Group LLC grew its position in The Charles Schwab by 31.4% during the second quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after buying an additional 1,082 shares in the last quarter. Finally, Sigma Investment Counselors Inc. acquired a new stake in The Charles Schwab during the second quarter worth about $201,000. 79.84% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group assumed coverage on The Charles Schwab in a research report on Thursday, November 30th. They set an “outperform” rating and a $55.00 target price on the stock. Barclays lifted their target price on The Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $47.00 target price on shares of The Charles Schwab in a research report on Friday, September 15th. Deutsche Bank lifted their target price on The Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, BidaskClub upgraded shares of The Charles Schwab from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $47.56.
The Charles Schwab Corporation (SCHW) traded down $0.24 on Thursday, reaching $50.54. 6,505,300 shares of the company’s stock were exchanged, compared to its average volume of 7,080,912. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The Charles Schwab Corporation has a 12-month low of $37.16 and a 12-month high of $51.89. The firm has a market cap of $68,074.45, a price-to-earnings ratio of 32.55, a PEG ratio of 2.16 and a beta of 1.74.
The Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the business earned $0.35 EPS. The firm’s revenue was up 13.1% on a year-over-year basis. equities analysts forecast that The Charles Schwab Corporation will post 1.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, November 9th. The Charles Schwab’s dividend payout ratio (DPR) is 20.51%.
In other news, insider Marie A. Chandoha sold 6,018 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $44.06, for a total value of $265,153.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bernard J. Clark sold 75,244 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $43.98, for a total transaction of $3,309,231.12. The disclosure for this sale can be found here. Insiders sold a total of 1,765,865 shares of company stock valued at $82,068,328 in the last three months. 12.00% of the stock is owned by company insiders.
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The Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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