Conning Inc. Has $5.10 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Conning Inc. boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 16.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,628 shares of the financial services provider’s stock after acquiring an additional 11,035 shares during the period. Conning Inc.’s holdings in Charles Schwab were worth $5,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. M&G Plc acquired a new position in Charles Schwab during the 1st quarter worth $11,452,000. Teewinot Capital Advisers L.L.C. increased its holdings in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Charles Schwab by 10.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after purchasing an additional 17,925 shares during the period. Iowa State Bank increased its holdings in shares of Charles Schwab by 37.9% during the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of Charles Schwab by 8.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 134,897 shares of the financial services provider’s stock worth $9,758,000 after purchasing an additional 10,393 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Charles R. Schwab sold 62,345 shares of the 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 transaction, the chairman now directly owns 60,619,371 shares in the company, 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 filing with the SEC, which is available at 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 shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,465 shares of company stock worth $8,050,109. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SCHW shares. Barclays boosted their price objective on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. TD Cowen restated a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Wells Fargo & Company upped their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Cowen upped their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Price Performance

NYSE:SCHW opened at $70.94 on Friday. The firm has a market cap of $126.16 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96. The Charles Schwab Co. has a 12 month low of $53.49 and a 12 month high of $79.49. 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 company’s 50-day moving average price is $66.39 and its two-hundred day moving average price is $69.50.

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 company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.41%. Charles Schwab’s payout ratio is 39.06%.

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.