3Chopt Investment Partners LLC Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

3Chopt Investment Partners LLC trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,442 shares of the financial services provider’s stock after selling 3,369 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Charles Schwab were worth $1,908,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. RFG Advisory LLC grew its position in shares of Charles Schwab by 7.4% during the 2nd quarter. RFG Advisory LLC now owns 8,806 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 610 shares during the period. Diversified Trust Co grew its holdings in Charles Schwab by 26.0% during the second quarter. Diversified Trust Co now owns 7,737 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 1,595 shares during the period. NorthCrest Asset Manangement LLC increased its position in Charles Schwab by 2.7% in the second quarter. NorthCrest Asset Manangement LLC now owns 15,519 shares of the financial services provider’s stock worth $1,144,000 after buying an additional 405 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of Charles Schwab by 7.5% in the second quarter. Great Valley Advisor Group Inc. now owns 25,163 shares of the financial services provider’s stock valued at $1,854,000 after buying an additional 1,758 shares during the period. Finally, Ferguson Wellman Capital Management Inc. grew its stake in shares of Charles Schwab by 69.3% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 7,810 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 3,196 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the transaction, the insider now directly owns 59,092 shares in the company, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,968 shares of company stock worth $9,419,271 in the last quarter. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Up 0.0 %

SCHW stock opened at $81.50 on Tuesday. The Charles Schwab Co. has a 1-year low of $59.67 and a 1-year high of $83.35. The stock has a market cap of $145.04 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $74.41 and its 200 day moving average is $70.16.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.77 EPS. Sell-side analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab’s dividend payout ratio is 39.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Raymond James cut their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $78.81.

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.