Private Ocean LLC Has $793,000 Stock Position in Charles Schwab Co. (NYSE:SCHW)

Private Ocean LLC lifted its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 84.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,947 shares of the financial services provider’s stock after purchasing an additional 8,680 shares during the quarter. Private Ocean LLC’s holdings in Charles Schwab were worth $793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Charles Schwab by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 91,211,828 shares of the financial services provider’s stock valued at $3,665,804,000 after buying an additional 794,114 shares during the last quarter. BlackRock Inc. increased its stake in shares of Charles Schwab by 3.7% during the second quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock valued at $3,499,773,000 after buying an additional 3,140,824 shares during the period. Edgewood Management LLC grew its stake in Charles Schwab by 1.2% in the second quarter. Edgewood Management LLC now owns 22,116,063 shares of the financial services provider’s stock worth $888,845,000 after purchasing an additional 256,759 shares during the period. Northern Trust Corp grew its stake in Charles Schwab by 0.6% in the second quarter. Northern Trust Corp now owns 16,812,955 shares of the financial services provider’s stock worth $675,714,000 after purchasing an additional 104,298 shares during the period. Finally, Parnassus Investments CA grew its stake in Charles Schwab by 16.4% in the third quarter. Parnassus Investments CA now owns 10,822,863 shares of the financial services provider’s stock worth $452,720,000 after purchasing an additional 1,527,073 shares during the period. Institutional investors own 79.10% of the company’s stock.

In other Charles Schwab news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $38.97, for a total value of $145,747.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen T. Mclin sold 5,093 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total value of $191,293.08. Following the completion of the sale, the director now owns 7,297 shares in the company, valued at $274,075.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,677 shares of company stock worth $8,993,241. 10.90% of the stock is owned by insiders.

NYSE SCHW traded up $0.04 on Friday, reaching $43.54. 4,190,290 shares of the stock traded hands, compared to its average volume of 8,094,271. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.31. The company has a fifty day moving average price of $40.03 and a 200-day moving average price of $41.16. The company has a market cap of $56.76 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.73 and a beta of 1.32. Charles Schwab Co. has a 12 month low of $34.58 and a 12 month high of $48.52.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.05. Charles Schwab had a return on equity of 20.85% and a net margin of 35.12%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the company posted $0.65 EPS. Charles Schwab’s revenue was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that Charles Schwab Co. will post 2.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 7th. Charles Schwab’s dividend payout ratio is presently 27.76%.

SCHW has been the subject of several research analyst reports. ValuEngine upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Citigroup increased their target price on Charles Schwab from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Raymond James cut Charles Schwab from an “outperform” rating to a “market perform” rating in a research report on Tuesday. They noted that the move was a valuation call. Argus reiterated a “buy” rating and set a $52.00 target price (down previously from $57.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Bank of America cut Charles Schwab from a “buy” rating to a “neutral” rating and cut their price target for the company from $49.00 to $43.00 in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $44.38.

Charles Schwab Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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

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