Advisors Asset Management Inc. Cuts Stake in The Charles Schwab Co. (NYSE:SCHW)

Advisors Asset Management Inc. cut its position in The Charles Schwab Co. (NYSE:SCHW) by 4.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,823 shares of the financial services provider’s stock after selling 974 shares during the period. Advisors Asset Management Inc.’s holdings in Charles Schwab were worth $1,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alliance Wealth Advisors LLC raised its holdings in Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares during the last quarter. Washington Trust Advisors Inc. increased its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares in the last quarter. Arcataur Capital Management LLC raised its stake in shares of Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 150 shares during the last quarter. Tandem Capital Management Corp ADV lifted its holdings in shares of Charles Schwab by 0.3% during the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after purchasing an additional 150 shares in the last quarter. Finally, Ascent Wealth Partners LLC increased its holdings in Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after buying an additional 164 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.6 %

Shares of SCHW stock opened at $81.77 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a one year low of $55.59 and a one year high of $82.50. The company’s fifty day moving average price is $70.91 and its 200-day moving average price is $69.81. The company has a market capitalization of $145.52 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.76 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Insider Activity

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 5.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,929 shares of company stock worth $8,196,624 over the last quarter. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. JMP Securities raised their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group reduced their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.18.

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.