4,312 Shares in The Charles Schwab Co. (NYSE:SCHW) Purchased by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC bought a new stake in The Charles Schwab Co. (NYSE:SCHW) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,312 shares of the financial services provider’s stock, valued at approximately $279,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares during the period. Legal & General Group Plc increased its stake in shares of Charles Schwab by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after acquiring an additional 225,397 shares during the last quarter. Allen Investment Management LLC lifted its holdings in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after acquiring an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Charles Schwab by 8.9% in the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after acquiring an additional 596,589 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $78.27 on Thursday. The Charles Schwab Co. has a 1 year low of $54.24 and a 1 year high of $79.49. The firm has a market cap of $139.29 billion, a P/E ratio of 30.57, a PEG ratio of 1.79 and a beta of 0.96. The stock has a fifty day moving average price of $67.76 and a two-hundred day moving average price of $69.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. Research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,645 shares of company stock worth $7,440,627 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SCHW. Wells Fargo & Company upped their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Cowen raised their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Raymond James cut their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Citigroup dropped their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. lifted their target price on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.