Primecap Management Co. CA Lowers Stake in The Charles Schwab Co. (NYSE:SCHW)

Primecap Management Co. CA decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 2.1% during the third quarter, Holdings Channel reports. The firm owned 1,036,350 shares of the financial services provider’s stock after selling 22,385 shares during the quarter. Primecap Management Co. CA’s holdings in Charles Schwab were worth $67,166,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Charles Schwab by 4.2% in the first 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 purchasing an additional 2,946,327 shares during the period. Darsana Capital Partners LP boosted its stake in shares of Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after buying an additional 2,000,000 shares during the period. AustralianSuper Pty Ltd grew its position in shares of Charles Schwab by 2,617.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after buying an additional 1,644,931 shares in the last quarter. Boston Partners increased its stake in shares of Charles Schwab by 21.2% during the first quarter. Boston Partners now owns 5,395,138 shares of the financial services provider’s stock worth $390,856,000 after buying an additional 944,048 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Charles Schwab by 7,559.9% in the third quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider’s stock valued at $57,667,000 after acquiring an additional 878,163 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.4 %

SCHW stock opened at $80.80 on Friday. The Charles Schwab Co. has a 12 month low of $55.42 and a 12 month high of $82.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $143.80 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The company has a fifty day moving average price of $70.17 and a 200 day moving average price of $69.82.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Sell-side analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred 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 directly owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,929 shares of company stock worth $8,196,624 over the last 90 days. 6.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SCHW shares. Raymond James lowered their price target on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Jefferies Financial Group cut their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Barclays upped their price objective on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.18.

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.