The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lessened its position in The Charles Schwab Co. (NYSE:SCHW) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 666,331 shares of the financial services provider’s stock after selling 8,076 shares during the period. Crestwood Advisors Group LLC’s holdings in Charles Schwab were worth $43,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Country Trust Bank acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $26,000. Fortitude Family Office LLC raised its position in shares of Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares during the period. American Capital Advisory LLC acquired a new position in Charles Schwab in the second quarter valued at $27,000. CGC Financial Services LLC purchased a new stake in Charles Schwab during the second quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.5 %

Shares of SCHW stock traded down $0.36 during trading hours on Tuesday, hitting $70.60. 234,147 shares of the company were exchanged, compared to its average volume of 7,963,799. The stock has a market capitalization of $125.56 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.63 and a beta of 0.96. The Charles Schwab Co. has a one year low of $53.49 and a one year high of $79.49. The business’s 50-day simple moving average is $66.52 and its two-hundred day simple moving average is $69.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

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

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.42%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Wall Street Analyst Weigh In

SCHW has been the subject of several research reports. TD Cowen reiterated a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Barclays increased their price target on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lowered their target price 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. Finally, UBS Group reduced their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.94.

Insiders Place Their Bets

In related 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred 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 sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the 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 completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,465 shares of company stock valued at $8,050,109 over the last quarter. Insiders own 6.60% of the company’s stock.

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.