ProVise Management Group LLC decreased its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 28.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,311 shares of the financial services provider’s stock after selling 5,200 shares during the quarter. ProVise Management Group LLC’s holdings in The Charles Schwab were worth $582,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of SCHW. WealthTrust Arizona LLC increased its stake in The Charles Schwab by 1.2% during the 2nd 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 position in shares of The Charles Schwab during the 2nd quarter worth approximately $145,000. Fiduciary Trust Co. acquired a new position in shares of The Charles Schwab during the 2nd quarter worth approximately $163,000. Quadrant Capital Group LLC boosted its holdings in shares of The Charles Schwab by 31.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,082 shares during the last quarter. Finally, Founders Capital Management boosted its holdings in shares of The Charles Schwab by 7.7% during the 2nd quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 300 shares during the last quarter. 79.84% of the stock is owned by hedge funds and other institutional investors.
The Charles Schwab Corporation (NYSE SCHW) traded up $0.54 during trading on Thursday, hitting $51.08. The stock had a trading volume of 5,449,806 shares, compared to its average volume of 7,074,000. The stock has a market capitalization of $68,074.45, a price-to-earnings ratio of 32.55, a P/E/G ratio of 2.16 and a beta of 1.74. 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 1-year low of $37.16 and a 1-year high of $51.89.
The Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. The Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The Charles Schwab’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. equities research analysts expect that The Charles Schwab Corporation will post 1.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, November 9th. The Charles Schwab’s dividend payout ratio (DPR) is presently 20.51%.
In other The Charles Schwab news, CFO Peter B. Crawford sold 12,459 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $51.58, for a total value of $642,635.22. Following the completion of the transaction, the chief financial officer now owns 7,652 shares in the company, valued at $394,690.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Walter W. Bettinger acquired 72,510 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was bought at an average price of $27.21 per share, with a total value of $1,972,997.10. Following the purchase, the insider now directly owns 41,330 shares of the company’s stock, valued at $1,124,589.30. The disclosure for this purchase can be found here. Insiders sold 1,778,324 shares of company stock worth $82,710,964 in the last three months. 12.00% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on the company. BidaskClub cut The Charles Schwab from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 price objective on shares of The Charles Schwab in a report on Friday, September 15th. Jefferies Group reiterated a “buy” rating and issued a $49.00 price objective on shares of The Charles Schwab in a report on Friday, September 15th. Barclays started coverage on The Charles Schwab in a report on Friday, September 8th. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, Credit Suisse Group started coverage on The Charles Schwab in a research note on Thursday, November 30th. They set an “outperform” rating and a $55.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.56.
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About The Charles Schwab
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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