Chevy Chase Trust Holdings LLC Reduces Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 813,878 shares of the financial services provider’s stock after selling 14,230 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Charles Schwab were worth $52,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in SCHW. Washington Trust Advisors Inc. lifted its stake 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 worth $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $25,000. Country Trust Bank purchased a new position in shares of Charles Schwab in the 2nd quarter valued at $26,000. American Capital Advisory LLC acquired a new stake in Charles Schwab during the 2nd quarter worth $27,000. Finally, Fortitude Family Office LLC lifted 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 valued at $29,000 after acquiring an additional 192 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SCHW. Morgan Stanley lifted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Cowen upped their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $75.56.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,968 shares of company stock valued at $9,419,271 in the last ninety days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Trading Down 1.6 %

NYSE SCHW opened at $81.40 on Tuesday. 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 stock has a market capitalization of $144.86 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.79 and a beta of 0.96. The Charles Schwab Co. has a 52-week low of $59.67 and a 52-week high of $83.35. The firm has a 50-day moving average price of $72.37 and a 200 day moving average price of $69.97.

Charles Schwab (NYSE:SCHW) last issued 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 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 period in the prior year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. Charles Schwab’s payout ratio is currently 39.06%.

Charles Schwab Company 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.