Janney Montgomery Scott LLC Increases Holdings in Charles Schwab Corp (SCHW)

Janney Montgomery Scott LLC boosted its holdings in shares of Charles Schwab Corp (NYSE:SCHW) by 50.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,971 shares of the financial services provider’s stock after acquiring an additional 23,014 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Charles Schwab were worth $3,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Asset Management LLC lifted its holdings in shares of Charles Schwab by 0.6% during the 2nd quarter. Summit Asset Management LLC now owns 12,158 shares of the financial services provider’s stock valued at $522,000 after buying an additional 70 shares during the last quarter. Ballentine Partners LLC lifted its holdings in Charles Schwab by 0.7% in the 2nd quarter. Ballentine Partners LLC now owns 12,689 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 93 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Charles Schwab by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 8,618 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 144 shares during the last quarter. Traynor Capital Management Inc. lifted its holdings in Charles Schwab by 2.6% in the 2nd quarter. Traynor Capital Management Inc. now owns 6,560 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 166 shares during the last quarter. Finally, Alpine Global Management LLC lifted its holdings in Charles Schwab by 2.9% in the 2nd quarter. Alpine Global Management LLC now owns 6,900 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.

Shares of Charles Schwab Corp (NYSE:SCHW) traded up $1.08 during trading hours on Friday, reaching $51.28. The company’s stock had a trading volume of 10,621,877 shares, compared to its average volume of 6,774,340. Charles Schwab Corp has a 52-week low of $37.16 and a 52-week high of $51.98. The company has a market capitalization of $67,296.92, a PE ratio of 32.18, a price-to-earnings-growth ratio of 2.13 and a beta of 1.74. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the business posted $0.35 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. equities research analysts forecast that Charles Schwab Corp will post 1.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, November 9th. Charles Schwab’s dividend payout ratio (DPR) is 20.51%.

In other Charles Schwab news, EVP Bernard J. Clark sold 75,244 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $43.98, for a total value of $3,309,231.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marie A. Chandoha sold 4,500 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $44.50, for a total value of $200,250.00. The disclosure for this sale can be found here. Insiders sold 1,778,324 shares of company stock worth $82,710,964 over the last quarter. Company insiders own 12.00% of the company’s stock.

Several research firms recently weighed in on SCHW. SunTrust Banks boosted their target price on Charles Schwab to $56.00 and gave the stock an “average” rating in a report on Friday. They noted that the move was a valuation call. BidaskClub raised Charles Schwab from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Barclays lifted their price target on Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Morgan Stanley lifted their price target on Charles Schwab from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $49.00 price target on shares of Charles Schwab in a research report on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $48.31.

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About Charles Schwab

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.

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

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