Glenmede Trust Co. NA Sells 10,855 Shares of The Charles Schwab Co. (NYSE:SCHW)

Glenmede Trust Co. NA cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.1% in the third quarter, HoldingsChannel.com reports. The fund owned 982,156 shares of the financial services provider’s stock after selling 10,855 shares during the period. Glenmede Trust Co. NA’s holdings in Charles Schwab were worth $63,654,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SCHW. Country Trust Bank bought a new stake in shares of Charles Schwab during the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in Charles Schwab during the third quarter valued at approximately $25,000. Washington Trust Advisors Inc. increased 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 buying an additional 149 shares during the last quarter. Fortitude Family Office LLC raised its position in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the period. Finally, American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

SCHW stock opened at $82.22 on Wednesday. The Charles Schwab Co. has a 52 week low of $55.59 and a 52 week high of $82.50. The firm has a market capitalization of $146.32 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a fifty day simple moving average of $71.28 and a two-hundred day simple moving average of $69.85. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Wall Street Analyst Weigh In

SCHW has been the topic of several analyst reports. JMP Securities lifted their target price on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Jefferies Financial Group cut their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lifted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $74.18.

Insider Buying and Selling

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred 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 $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,668 shares of company stock worth $9,230,648 over the last three months. 6.60% of the stock is owned by 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.