Charles Schwab Co. (SCHW) Holdings Cut by Lodestar Investment Counsel LLC IL

Lodestar Investment Counsel LLC IL trimmed its position in shares of Charles Schwab Co. (NYSE:SCHW) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 284,284 shares of the financial services provider’s stock after selling 2,938 shares during the quarter. Charles Schwab comprises approximately 1.5% of Lodestar Investment Counsel LLC IL’s investment portfolio, making the stock its 21st biggest holding. Lodestar Investment Counsel LLC IL’s holdings in Charles Schwab were worth $13,973,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. IFG Advisory LLC lifted its stake in Charles Schwab by 11.3% during the second quarter. IFG Advisory LLC now owns 10,087 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 1,026 shares during the period. Gibraltar Capital Management Inc. lifted its stake in Charles Schwab by 0.9% during the second quarter. Gibraltar Capital Management Inc. now owns 113,017 shares of the financial services provider’s stock worth $5,775,000 after purchasing an additional 1,057 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management lifted its stake in Charles Schwab by 11.0% during the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 10,806 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 1,068 shares during the period. Bbva Compass Bancshares Inc. lifted its stake in Charles Schwab by 8.1% during the second quarter. Bbva Compass Bancshares Inc. now owns 14,972 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 1,121 shares during the period. Finally, CapWealth Advisors LLC lifted its stake in Charles Schwab by 4.3% during the second quarter. CapWealth Advisors LLC now owns 27,970 shares of the financial services provider’s stock worth $1,429,000 after purchasing an additional 1,161 shares during the period. Institutional investors own 80.30% of the company’s stock.

Shares of NYSE SCHW traded down $1.34 during mid-day trading on Thursday, hitting $46.70. 835,087 shares of the stock were exchanged, compared to its average volume of 6,555,474. The firm has a market cap of $66.40 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.23 and a beta of 1.55. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. Charles Schwab Co. has a twelve month low of $42.20 and a twelve month high of $60.22.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Monday, October 15th. The financial services provider reported $0.65 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.58 billion. Charles Schwab had a net margin of 30.83% and a return on equity of 17.96%. The company’s revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. On average, analysts forecast that Charles Schwab Co. will post 2.43 earnings per share for the current year.

A number of research analysts have commented on SCHW shares. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, June 26th. ValuEngine cut shares of Charles Schwab from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. JPMorgan Chase & Co. set a $59.00 price target on shares of Charles Schwab and gave the stock a “buy” rating in a research note on Monday, July 16th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of Charles Schwab in a research note on Monday, July 16th. Finally, Wells Fargo & Co raised their price objective on shares of Charles Schwab from $54.00 to $56.00 and gave the stock a “$54.22” rating in a report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Charles Schwab has an average rating of “Hold” and a consensus price target of $58.77.

In related news, Chairman Charles R. Schwab sold 190,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $52.75, for a total value of $10,048,875.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan M. Craig sold 2,629 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $48.84, for a total transaction of $128,400.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 217,271 shares of company stock valued at $11,385,530. Company insiders own 11.50% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles Schwab Co. (NYSE:SCHW).

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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