MQS Management LLC Buys Shares of 7,550 The Charles Schwab Co. (NYSE:SCHW)

MQS Management LLC acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the third quarter, HoldingsChannel.com reports. The fund acquired 7,550 shares of the financial services provider’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Washington Trust Advisors Inc. grew its holdings in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab during the 3rd quarter valued at about $25,000. Country Trust Bank bought a new position in shares of Charles Schwab during the 2nd quarter valued at approximately $26,000. American Capital Advisory LLC bought a new stake in Charles Schwab during the 2nd quarter worth approximately $27,000. Finally, Fortitude Family Office LLC lifted its holdings in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 0.1 %

NYSE:SCHW opened at $78.27 on Thursday. The company has a market cap of $139.29 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $54.24 and a twelve month high of $79.49. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $67.76 and a 200-day simple moving average of $69.48.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company 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 firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SCHW shares. Wells Fargo & Company increased their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. TD Cowen restated a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Barclays increased their price objective on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Cowen boosted their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.18.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. 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 ninety days. 6.60% of the stock is owned by company insiders.

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.