Verdence Capital Advisors LLC Sells 283 Shares of The Charles Schwab Co. (NYSE:SCHW)

Verdence Capital Advisors LLC decreased its stake in The Charles Schwab Co. (NYSE:SCHW) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,171 shares of the financial services provider’s stock after selling 283 shares during the period. Verdence Capital Advisors LLC’s holdings in Charles Schwab were worth $206,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Country Trust Bank purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in shares of Charles Schwab in the third quarter worth approximately $25,000. Washington Trust Advisors Inc. increased its position in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the period. Fortitude Family Office LLC raised its stake in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. Finally, American Capital Advisory LLC purchased a new stake in shares of Charles Schwab during the second quarter worth about $27,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

NYSE SCHW opened at $78.20 on Wednesday. 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 company has a market capitalization of $139.07 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.69 and a beta of 0.96. The stock has a 50-day moving average of $67.50 and a 200 day moving average of $69.46. The Charles Schwab Co. has a one year low of $53.60 and a one year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio is 39.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Jefferies Financial Group dropped their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday. Finally, JMP Securities lifted their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $74.18.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on 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 approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,965 shares of company stock worth $8,242,659 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab 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.