Boltwood Capital Management Sells 235 Shares of The Charles Schwab Co. (NYSE:SCHW)

Boltwood Capital Management lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,862 shares of the financial services provider’s stock after selling 235 shares during the period. Boltwood Capital Management’s holdings in Charles Schwab were worth $510,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Trust Co of the South purchased a new position in shares of Charles Schwab in the third quarter worth about $324,000. Cascade Investment Advisors Inc. boosted its holdings in Charles Schwab by 18.2% in the third quarter. Cascade Investment Advisors Inc. now owns 37,255 shares of the financial services provider’s stock valued at $2,414,000 after acquiring an additional 5,730 shares in the last quarter. Trust Co. of Toledo NA OH boosted its stake in shares of Charles Schwab by 41.8% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 6,172 shares of the financial services provider’s stock valued at $400,000 after purchasing an additional 1,820 shares in the last quarter. Davis Capital Management grew its holdings in shares of Charles Schwab by 152.3% during the 3rd quarter. Davis Capital Management now owns 1,408 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 850 shares during the period. Finally, Jacobs & Co. CA raised its holdings in Charles Schwab by 6.6% in the third quarter. Jacobs & Co. CA now owns 172,664 shares of the financial services provider’s stock worth $11,190,000 after purchasing an additional 10,645 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In other news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jonathan S. Beatty sold 780 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Price Performance

Shares of SCHW opened at $63.32 on Thursday. The firm has a market capitalization of $112.60 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 1.32 and a beta of 0.97. The firm’s fifty day simple moving average is $64.06 and its 200-day simple moving average is $69.78. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve 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.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Equities analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays decreased their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Bank of America decreased their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Finally, JMP Securities dropped their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.31.

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.