Triple Frond Partners LLC grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 25.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,500,000 shares of the financial services provider’s stock after purchasing an additional 500,000 shares during the quarter. The Charles Schwab Corporation comprises 13.3% of Triple Frond Partners LLC’s portfolio, making the stock its 5th biggest holding. Triple Frond Partners LLC owned approximately 0.19% of The Charles Schwab Corporation worth $109,350,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. WealthTrust Arizona LLC grew its position in The Charles Schwab Corporation by 1.2% during the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after buying an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in The Charles Schwab Corporation during the second quarter worth about $145,000. Fiduciary Trust Co. acquired a new stake in The Charles Schwab Corporation during the second quarter worth about $163,000. Quadrant Capital Group LLC grew its position in The Charles Schwab Corporation 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, Founders Capital Management grew its position in The Charles Schwab Corporation by 7.7% during the second quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock worth $180,000 after buying an additional 300 shares in the last quarter. 79.93% of the stock is currently owned by institutional investors.
The Charles Schwab Corporation (NYSE:SCHW) opened at $45.78 on Friday. The Charles Schwab Corporation has a one year low of $37.16 and a one year high of $46.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.30 and a current ratio of 0.31. The company has a market cap of $61,398.38, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.95 and a beta of 1.74.
The Charles Schwab Corporation (NYSE:SCHW) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The Charles Schwab Corporation 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 analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The Charles Schwab Corporation’s quarterly revenue was up 13.1% compared to the same quarter last year. equities analysts expect that The Charles Schwab Corporation will post 1.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Thursday, November 9th. The Charles Schwab Corporation’s dividend payout ratio (DPR) is currently 20.51%.
In related news, insider Walter W. Bettinger purchased 72,510 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired at an average price of $27.21 per share, with a total value of $1,972,997.10. Following the completion of the acquisition, the insider now directly owns 41,330 shares in the company, valued at approximately $1,124,589.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Terri R. Kallsen sold 4,267 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $46.02, for a total transaction of $196,367.34. The disclosure for this sale can be found here. Insiders sold 923,095 shares of company stock valued at $41,179,740 in the last quarter. 12.00% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently weighed in on the company. Barclays PLC lifted their target price on The Charles Schwab Corporation 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 Corporation in a research report on Friday, September 15th. Deutsche Bank AG raised their price target on shares of The Charles Schwab Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of The Charles Schwab Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. Finally, Morgan Stanley raised their price target on shares of The Charles Schwab Corporation from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, October 5th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.07.
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The Charles Schwab Corporation 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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