AMI Asset Management Corp Sells 26,209 Shares of The Charles Schwab Co. (NYSE:SCHW)

AMI Asset Management Corp cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 3.3% during the third quarter, HoldingsChannel reports. The firm owned 762,718 shares of the financial services provider’s stock after selling 26,209 shares during the period. Charles Schwab accounts for about 2.7% of AMI Asset Management Corp’s holdings, making the stock its 13th largest position. AMI Asset Management Corp’s holdings in Charles Schwab were worth $49,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nelson Capital Management LLC raised its holdings in shares of Charles Schwab by 0.4% in the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after acquiring an additional 141 shares in the last quarter. Abbrea Capital LLC boosted its stake in shares of Charles Schwab by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 142 shares in the last quarter. Alliance Wealth Advisors LLC increased its holdings in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after buying an additional 142 shares during the period. Arcataur Capital Management LLC raised its stake in Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after buying an additional 150 shares in the last quarter. Finally, Ascent Wealth Partners LLC raised its position in shares of Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.0 %

Shares of NYSE:SCHW opened at $72.60 on Wednesday. The Charles Schwab Co. has a fifty-two week low of $50.30 and a fifty-two week high of $79.49. The firm’s 50 day moving average price is $66.00 and its 200 day moving average price is $69.51. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $129.03 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,615 shares of company stock valued at $8,125,089. 6.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen restated a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Bank of America lowered their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.94.

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.