The Charles Schwab Corporation (SCHW) Shares Sold by Cipher Capital LP
Cipher Capital LP lessened its stake in The Charles Schwab Corporation (NYSE:SCHW) by 44.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,942 shares of the financial services provider’s stock after selling 14,966 shares during the period. Cipher Capital LP’s holdings in The Charles Schwab were worth $828,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. WealthTrust Arizona LLC increased its stake in The Charles Schwab by 1.2% during the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 29 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in The Charles Schwab during the second quarter valued at $145,000. Fiduciary Trust Co. bought a new stake in The Charles Schwab during the second quarter valued at $163,000. Quadrant Capital Group LLC increased its stake in The Charles Schwab by 31.4% during the second quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 1,082 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC increased its stake in The Charles Schwab by 4.7% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,450 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
Several analysts have weighed in on the stock. BidaskClub lowered shares of The Charles Schwab from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Barclays PLC boosted their target price on shares of The Charles Schwab from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Morgan Stanley boosted their target price on shares of The Charles Schwab from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, October 5th. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 target price on shares of The Charles Schwab in a research note on Friday, September 15th. Finally, Deutsche Bank AG boosted their target price on shares of The Charles Schwab from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $47.07.
In related news, EVP Bernard J. Clark sold 75,244 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $43.98, for a total value of $3,309,231.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Terri R. Kallsen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total transaction of $38,990.00. Following the completion of the sale, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at approximately $203,215.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 923,095 shares of company stock valued at $41,179,740. Corporate insiders own 12.00% of the company’s stock.
Shares of The Charles Schwab Corporation (SCHW) traded down $0.02 on Friday, hitting $45.78. 1,269,015 shares of the stock traded hands, compared to its average volume of 4,473,945. The Charles Schwab Corporation has a 52 week low of $37.16 and a 52 week high of $46.33. The firm has a market capitalization of $61,371.57, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 1.95 and a beta of 1.74. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21.
The Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. equities analysts expect that The Charles Schwab Corporation will post 1.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, November 9th. The Charles Schwab’s dividend payout ratio (DPR) is 20.51%.
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The Charles Schwab Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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