The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,201 shares of the financial services provider’s stock after purchasing an additional 174 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Charles Schwab were worth $596,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SCHW. M&G Plc purchased a new position in shares of Charles Schwab in the first quarter worth approximately $11,452,000. Teewinot Capital Advisers L.L.C. lifted its position in shares of Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after buying an additional 64,041 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Charles Schwab by 10.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after acquiring an additional 17,925 shares in the last quarter. Iowa State Bank lifted its holdings in Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares during the last quarter. Finally, Dudley & Shanley Inc. bought a new stake in Charles Schwab during the 1st quarter valued at approximately $13,650,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab 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 transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,001 shares of company stock valued at $12,512,592. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 1.1 %

SCHW opened at $71.82 on Friday. The stock has a market cap of $127.64 billion, a PE ratio of 30.05, a P/E/G ratio of 1.63 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 52 week low of $49.16 and a 52 week high of $79.49. The business’s fifty day simple moving average is $65.60 and its 200 day simple moving average is $69.52.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the company earned $0.77 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio is 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. TD Cowen reiterated a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Morgan Stanley upped their price objective on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup dropped their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Finally, JMP Securities raised their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.94.

About Charles Schwab

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.