Catalyst Financial Partners LLC trimmed its position in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,198 shares of the financial services provider’s stock after selling 429 shares during the period. Catalyst Financial Partners LLC’s holdings in Charles Schwab were worth $791,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares in the last quarter. Darsana Capital Partners LP grew its position in Charles Schwab by 200.0% during the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after buying an additional 2,000,000 shares in the last quarter. Mondrian Investment Partners LTD increased its stake in Charles Schwab by 28,736.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after acquiring an additional 1,480,485 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Charles Schwab in the 1st quarter valued at about $105,563,000. Finally, Westwood Holdings Group Inc. boosted its position in shares of Charles Schwab by 231.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock valued at $108,433,000 after acquiring an additional 1,046,322 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
SCHW has been the topic of several research analyst reports. Citigroup decreased their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. JMP Securities increased their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Raymond James reduced their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, Cowen lifted their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.94.
Charles Schwab Stock Down 1.1 %
NYSE:SCHW opened at $71.10 on Thursday. The Charles Schwab Co. has a 1-year low of $50.30 and a 1-year high of $79.49. The company has a market capitalization of $126.36 billion, a PE ratio of 29.75, a P/E/G ratio of 1.65 and a beta of 0.97. The firm’s 50-day moving average price is $66.13 and its 200-day moving average price is $69.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.
Charles Schwab (NYSE:SCHW – Get Free Report) last issued 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. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.
Charles Schwab Dividend Announcement
The business 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. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. Charles Schwab’s payout ratio is presently 41.84%.
Insider Transactions at Charles Schwab
In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now owns 551,329 shares in the company, valued at approximately $39,783,900.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,465 shares of company stock valued at $8,050,109 in the last quarter. 6.60% of the stock is owned by insiders.
Charles Schwab Company 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.
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