First Long Island Investors LLC Decreases Stock Position in Charles Schwab Co. (NYSE:SCHW)

First Long Island Investors LLC lessened its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 9.4% during the third quarter, Holdings Channel reports. The firm owned 334,147 shares of the financial services provider’s stock after selling 34,529 shares during the quarter. Charles Schwab makes up about 1.7% of First Long Island Investors LLC’s investment portfolio, making the stock its 26th biggest position. First Long Island Investors LLC’s holdings in Charles Schwab were worth $13,977,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Findlay Park Partners LLP boosted its position in Charles Schwab by 26.8% during the 3rd quarter. Findlay Park Partners LLP now owns 3,896,249 shares of the financial services provider’s stock valued at $162,980,000 after acquiring an additional 822,350 shares in the last quarter. BBVA USA Bancshares Inc. boosted its position in Charles Schwab by 283.8% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 80,885 shares of the financial services provider’s stock valued at $3,383,000 after acquiring an additional 59,812 shares in the last quarter. River & Mercantile Asset Management LLP boosted its position in Charles Schwab by 92.6% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 74,150 shares of the financial services provider’s stock valued at $3,102,000 after acquiring an additional 35,654 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Charles Schwab by 25.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,204,732 shares of the financial services provider’s stock valued at $217,714,000 after acquiring an additional 1,039,787 shares in the last quarter. Finally, Academy Capital Management Inc. TX boosted its position in Charles Schwab by 161.1% during the 3rd quarter. Academy Capital Management Inc. TX now owns 447,183 shares of the financial services provider’s stock valued at $18,204,000 after acquiring an additional 275,901 shares in the last quarter. Institutional investors own 79.64% of the company’s stock.

SCHW has been the topic of several research reports. Deutsche Bank lifted their price objective on Charles Schwab from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Sandler O’Neill set a $45.00 price objective on Charles Schwab and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research raised Charles Schwab from a “peer perform” rating to an “outperform” rating and lifted their price objective for the company from $42.00 to $46.00 in a research report on Tuesday, September 3rd. Barclays reaffirmed a “sell” rating and set a $35.00 price objective on shares of Charles Schwab in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Charles Schwab in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Charles Schwab presently has a consensus rating of “Hold” and an average target price of $44.38.

In related news, Chairman Charles R. Schwab sold 105,422 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $40.08, for a total value of $4,225,313.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $38.97, for a total value of $145,747.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,677 shares of company stock worth $8,993,241. Insiders own 10.90% of the company’s stock.

Shares of SCHW opened at $43.23 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average price is $40.06 and its 200-day moving average price is $41.14. Charles Schwab Co. has a 52 week low of $34.58 and a 52 week high of $48.23. The stock has a market cap of $56.91 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.74 and a beta of 1.32.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Charles Schwab had a return on equity of 20.81% and a net margin of 35.12%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Charles Schwab Co. will post 2.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.17 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.57%. Charles Schwab’s dividend payout ratio is currently 27.76%.

About Charles Schwab

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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