Edgestream Partners L.P. Purchases New Position in The Charles Schwab Co. (NYSE:SCHW)

Edgestream Partners L.P. acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 119,269 shares of the financial services provider’s stock, valued at approximately $7,730,000.

Other large investors have also recently bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in shares of Charles Schwab by 255.8% during the 1st quarter. Cetera Investment Advisers now owns 392,899 shares of the financial services provider’s stock valued at $28,422,000 after purchasing an additional 282,474 shares in the last quarter. Cetera Advisors LLC lifted its stake in Charles Schwab by 126.0% in the first quarter. Cetera Advisors LLC now owns 65,976 shares of the financial services provider’s stock valued at $4,773,000 after buying an additional 36,782 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of Charles Schwab by 7.0% in the first quarter. Cetera Advisor Networks LLC now owns 247,996 shares of the financial services provider’s stock valued at $17,940,000 after buying an additional 16,332 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Charles Schwab by 13.7% during the first quarter. EverSource Wealth Advisors LLC now owns 22,929 shares of the financial services provider’s stock worth $1,696,000 after acquiring an additional 2,767 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its holdings in shares of Charles Schwab by 17.0% during the second quarter. Transcend Capital Advisors LLC now owns 4,981 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 725 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $82.79 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $59.61 and a 12-month high of $83.35. The business has a 50 day moving average of $72.37 and a 200-day moving average of $70.08. The stock has a market cap of $147.34 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business 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 posted $0.77 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Insider Activity at Charles Schwab

In other 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 sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,968 shares of company stock worth $9,419,271. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SCHW shares. Citigroup lowered their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays upped their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Raymond James reduced their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.