Allworth Financial LP Cuts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Allworth Financial LP decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,346 shares of the financial services provider’s stock after selling 1,848 shares during the period. Allworth Financial LP’s holdings in Charles Schwab were worth $1,643,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SCHW. Brookstone Capital Management boosted its position in shares of Charles Schwab by 27.7% during the first quarter. Brookstone Capital Management now owns 10,928 shares of the financial services provider’s stock valued at $791,000 after buying an additional 2,372 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in Charles Schwab by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 30,343 shares of the financial services provider’s stock worth $2,195,000 after acquiring an additional 401 shares during the period. Claro Advisors LLC bought a new stake in Charles Schwab during the first quarter worth $387,000. Tributary Capital Management LLC bought a new stake in Charles Schwab during the first quarter worth $31,000. Finally, Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in Charles Schwab by 18.4% during the first quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 6,683 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 1,040 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,001 shares of company stock worth $12,512,592 over the last ninety days. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $71.82 on Monday. The stock has a market cap of $127.64 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97. The Charles Schwab Co. has a fifty-two week low of $49.16 and a fifty-two week high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a fifty day moving average of $65.73 and a 200-day moving average of $69.48.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. Equities research analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 41.84%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SCHW shares. Morgan Stanley lifted their price target on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday. Wells Fargo & Company lifted their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Cowen lifted their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their price target on Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Finally, JMP Securities boosted their target price on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.94.

About Charles Schwab

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.