Segment Wealth Management LLC Acquires 10,777 Shares of The Charles Schwab Corporation (SCHW)

Segment Wealth Management LLC raised its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,724 shares of the financial services provider’s stock after buying an additional 10,777 shares during the period. Segment Wealth Management LLC’s holdings in The Charles Schwab Corporation were worth $3,443,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. WealthTrust Arizona LLC lifted its position in The Charles Schwab Corporation by 1.2% during the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after buying an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in The Charles Schwab Corporation during the second quarter valued at approximately $145,000. Fiduciary Trust Co. acquired a new position in The Charles Schwab Corporation during the second quarter valued at approximately $163,000. Quadrant Capital Group LLC lifted its position in The Charles Schwab Corporation by 31.4% during the second quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $168,000 after buying an additional 1,082 shares in the last quarter. Finally, Founders Capital Management lifted its position in The Charles Schwab Corporation by 7.7% during the second quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock valued at $180,000 after buying an additional 300 shares in the last quarter. 79.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $48.00 price target (up from $45.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 10th. Barclays PLC lifted their price target on shares of The Charles Schwab Corporation from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Instinet reaffirmed a “neutral” rating and set a $43.00 price target (down from $46.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 24th. Argus reaffirmed a “buy” rating and set a $48.00 price target (up from $46.00) on shares of The Charles Schwab Corporation in a research report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 price target on shares of The Charles Schwab Corporation in a research report on Friday, September 15th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $47.07.

In other news, EVP Terri R. Kallsen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total value of $38,990.00. Following the completion of the sale, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at $203,215.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 350,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $43.10, for a total value of $15,085,000.00. The disclosure for this sale can be found here. Insiders sold 1,041,798 shares of company stock valued at $45,532,983 over the last three months. 12.00% of the stock is owned by company insiders.

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The Charles Schwab Corporation (NYSE:SCHW) traded down 0.29% during mid-day trading on Monday, reaching $44.78. 536,186 shares of the company traded hands. The Charles Schwab Corporation has a 52-week low of $30.66 and a 52-week high of $46.21. The company has a market capitalization of $59.96 billion, a P/E ratio of 28.52 and a beta of 1.68. The stock has a 50 day moving average price of $43.20 and a 200-day moving average price of $41.36.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The Charles Schwab Corporation had a return on equity of 16.07% and a net margin of 27.30%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the business earned $0.35 earnings per share. The Charles Schwab Corporation’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts expect that The Charles Schwab Corporation will post $1.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.71%. The Charles Schwab Corporation’s dividend payout ratio is 20.51%.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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Institutional Ownership by Quarter for The Charles Schwab Corporation (NYSE:SCHW)

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