First Allied Advisory Services Inc. cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 91.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,126 shares of the financial services provider’s stock after selling 190,362 shares during the period. First Allied Advisory Services Inc.’s holdings in The Charles Schwab were worth $793,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in SCHW. Capital Research Global Investors grew its position in The Charles Schwab by 86.3% in the second quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after acquiring an additional 11,224,199 shares in the last quarter. Janus Henderson Group PLC grew its position in The Charles Schwab by 1,766.9% in the second quarter. Janus Henderson Group PLC now owns 9,357,736 shares of the financial services provider’s stock worth $402,011,000 after acquiring an additional 8,856,483 shares in the last quarter. FMR LLC grew its position in The Charles Schwab by 11.3% in the second quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after acquiring an additional 3,128,532 shares in the last quarter. Vanguard Group Inc. boosted its position in The Charles Schwab by 3.2% during the second quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock valued at $3,519,523,000 after buying an additional 2,536,947 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in The Charles Schwab by 90.2% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 4,887,840 shares of the financial services provider’s stock valued at $213,794,000 after buying an additional 2,318,498 shares during the period. Institutional investors own 79.84% of the company’s stock.
In related news, Chairman Charles R. Schwab sold 350,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $44.65, for a total value of $15,627,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter B. Crawford sold 12,459 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $51.58, for a total transaction of $642,635.22. Following the completion of the transaction, the chief financial officer now directly owns 7,652 shares of the company’s stock, valued at $394,690.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,778,324 shares of company stock valued at $82,710,964. 12.00% of the stock is currently owned by company insiders.
Several analysts have issued reports on SCHW shares. Barclays started coverage on shares of The Charles Schwab in a research report on Friday, September 8th. They set an “overweight” rating and a $48.00 price target for the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $47.00 price target on shares of The Charles Schwab in a research report on Friday, September 15th. BidaskClub lowered shares of The Charles Schwab from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. Deutsche Bank upped their price target on shares of The Charles Schwab from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Jefferies Group restated a “buy” rating and set a $49.00 price target on shares of The Charles Schwab in a research report on Friday, September 15th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $47.56.
The Charles Schwab Corporation (NYSE SCHW) traded down $0.67 during trading on Tuesday, hitting $50.72. 7,238,300 shares of the stock were exchanged, compared to its average volume of 7,071,295. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $68,892.20, a price-to-earnings ratio of 32.94, a P/E/G ratio of 2.19 and a beta of 1.74. The Charles Schwab Corporation has a one year low of $37.16 and a one year high of $51.89.
The Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. The Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The Charles Schwab’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. sell-side analysts anticipate that The Charles Schwab Corporation will post 1.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, November 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.63%. The Charles Schwab’s dividend payout ratio is currently 20.51%.
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About The 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.
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