The Charles Schwab Co. (NYSE:SCHW) Position Trimmed by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 94,010 shares of the financial services provider’s stock after selling 1,643 shares during the period. Hartford Investment Management Co.’s holdings in Charles Schwab were worth $6,093,000 as of its most recent filing with the SEC.

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

Charles Schwab Trading Up 0.3 %

Shares of NYSE SCHW traded up $0.19 during midday trading on Wednesday, reaching $71.10. 345,268 shares of the stock were exchanged, compared to its average volume of 8,054,439. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The business has a 50-day simple moving average of $65.32 and a two-hundred day simple moving average of $69.48. The company has a market capitalization of $126.45 billion, a price-to-earnings ratio of 27.70, a P/E/G 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 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the company posted $0.77 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current year.

Insider Activity

In other news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of Charles Schwab 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 transaction, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,001 shares of company stock valued at $12,512,592 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley dropped their price target on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. TD Cowen reissued a “hold” rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. 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. Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group reduced their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.59.

Charles Schwab 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.