Robeco Institutional Asset Management B.V. decreased its holdings in Charles Schwab Co. (NYSE:SCHW) by 82.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 84,490 shares of the financial services provider’s stock after selling 403,474 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Charles Schwab were worth $4,153,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Creative Planning grew its position in Charles Schwab by 4.3% in the third quarter. Creative Planning now owns 63,364 shares of the financial services provider’s stock worth $3,114,000 after buying an additional 2,593 shares during the last quarter. IFP Advisors Inc boosted its stake in Charles Schwab by 18.4% in the 3rd quarter. IFP Advisors Inc now owns 8,237 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 1,281 shares during the period. Thomasville National Bank boosted its stake in Charles Schwab by 2.1% in the 3rd quarter. Thomasville National Bank now owns 113,856 shares of the financial services provider’s stock worth $5,596,000 after purchasing an additional 2,306 shares during the period. GW Henssler & Associates Ltd. boosted its stake in Charles Schwab by 5.0% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 250,389 shares of the financial services provider’s stock worth $12,307,000 after purchasing an additional 12,010 shares during the period. Finally, YCG LLC boosted its stake in Charles Schwab by 13.0% in the 3rd quarter. YCG LLC now owns 546,627 shares of the financial services provider’s stock worth $26,867,000 after purchasing an additional 63,016 shares during the period. Hedge funds and other institutional investors own 80.44% of the company’s stock.
Shares of NYSE:SCHW opened at $46.58 on Monday. The firm has a market cap of $62.93 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 1.16 and a beta of 1.48. Charles Schwab Co. has a 12-month low of $42.01 and a 12-month high of $60.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 32.65% and a return on equity of 19.46%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Equities analysts forecast that Charles Schwab Co. will post 2.45 EPS for the current fiscal year.
Charles Schwab announced that its board has initiated a stock repurchase plan on Thursday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 1.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 31.71%.
In other Charles Schwab news, insider Marie A. Chandoha sold 8,424 shares of Charles Schwab stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $48.01, for a total transaction of $404,436.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher V. Dodds sold 15,718 shares of Charles Schwab stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $51.14, for a total transaction of $803,818.52. Following the sale, the director now directly owns 7,592 shares of the company’s stock, valued at approximately $388,254.88. The disclosure for this sale can be found here. Insiders have sold a total of 26,771 shares of company stock valued at $1,336,655 in the last three months. Company insiders own 11.50% of the company’s stock.
A number of equities analysts recently commented on the stock. 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 research note on Wednesday, July 18th. Morgan Stanley raised their price objective on shares of Charles Schwab from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 25th. Citigroup decreased their price objective on shares of Charles Schwab from $49.00 to $48.00 and set a “sell” rating for the company in a research note on Monday, July 23rd. Wolfe Research assumed coverage on shares of Charles Schwab in a research note on Tuesday, September 25th. They issued an “underperform” rating for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Charles Schwab in a research note on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $57.73.
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.
Further Reading: Understanding each part of a balance sheet
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).
Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.