SevenBridge Financial Group LLC boosted its position in The Charles Schwab Corporation (NYSE:SCHW) by 51.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,933 shares of the financial services provider’s stock after buying an additional 5,404 shares during the quarter. SevenBridge Financial Group LLC’s holdings in The Charles Schwab were worth $697,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. acquired a new position in shares of The Charles Schwab during the 2nd quarter worth approximately $145,000. Fiduciary Trust Co. acquired a new position in shares of The Charles Schwab during the 2nd quarter worth approximately $163,000. Quadrant Capital Group LLC increased its position in shares of The Charles Schwab by 31.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,082 shares during the last quarter. Paradigm Asset Management Co. LLC increased its position in shares of The Charles Schwab by 4.7% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,450 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 200 shares during the last quarter. Finally, Sigma Investment Counselors Inc. acquired a new position in shares of The Charles Schwab during the 2nd quarter worth approximately $201,000. 79.84% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on SCHW. BidaskClub lowered The Charles Schwab from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Credit Suisse Group began coverage on The Charles Schwab in a research report on Thursday. They set an “outperform” rating and a $55.00 price target on the stock. Barclays boosted their target price on The Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Morgan Stanley boosted their target price on The Charles Schwab from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Finally, Jefferies Group reissued a “buy” rating and set a $49.00 target price on shares of The Charles Schwab in a report on Friday, September 15th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The Charles Schwab currently has a consensus rating of “Buy” and an average target price of $47.56.
The Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. The Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. sell-side analysts predict that The Charles Schwab Corporation will post 1.62 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were paid a $0.08 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.32 annualized dividend and a yield of 0.65%. The Charles Schwab’s dividend payout ratio (DPR) is presently 20.51%.
In related news, insider Walter W. Bettinger bought 72,510 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average cost of $27.21 per share, for a total transaction of $1,972,997.10. Following the transaction, the insider now owns 41,330 shares in the company, valued at approximately $1,124,589.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Terri R. Kallsen sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $38.99, for a total value of $38,990.00. Following the sale, the executive vice president now owns 5,212 shares of the company’s stock, valued at $203,215.88. The disclosure for this sale can be found here. Insiders sold a total of 1,558,339 shares of company stock valued at $71,645,892 over the last 90 days. 12.00% of the stock is currently owned by corporate insiders.
The Charles Schwab Company Profile
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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