Ritholtz Wealth Management Sells 777 Shares of The Charles Schwab Co. (NYSE:SCHW)

Ritholtz Wealth Management lessened its position in The Charles Schwab Co. (NYSE:SCHW) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,144 shares of the financial services provider’s stock after selling 777 shares during the period. Ritholtz Wealth Management’s holdings in Charles Schwab were worth $1,046,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SCHW. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after acquiring an additional 2,946,327 shares during the period. Darsana Capital Partners LP lifted 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 valued at $221,070,000 after purchasing an additional 2,000,000 shares during the period. Mondrian Investment Partners LTD boosted its holdings in Charles Schwab by 28,736.1% in the first quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after purchasing an additional 1,480,485 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Charles Schwab in the 1st quarter worth approximately $105,563,000. Finally, Westwood Holdings Group Inc. raised its stake in 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 buying an additional 1,046,322 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SCHW. Morgan Stanley cut their price objective on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. reduced their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. JMP Securities dropped their price objective on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. TD Cowen reaffirmed a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, UBS Group dropped their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.25.

Insider Activity

In other news, CEO Walter W. Bettinger purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was bought at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at approximately $54,822,000.02. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 98,856 shares of company stock worth $6,398,604 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.3 %

NYSE SCHW opened at $67.87 on Tuesday. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $120.70 billion, a PE ratio of 28.16, a P/E/G ratio of 1.43 and a beta of 0.97. The stock’s 50 day moving average is $64.23 and its 200 day moving average is $69.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Research analysts predict that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.49%.

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.