Pittenger & Anderson Inc. Has $3.41 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Pittenger & Anderson Inc. lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 15.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 52,669 shares of the financial services provider’s stock after selling 9,875 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Charles Schwab were worth $3,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in shares of Charles Schwab by 5.6% during the 1st quarter. Nordea Investment Management AB now owns 109,354 shares of the financial services provider’s stock worth $7,898,000 after buying an additional 5,810 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Charles Schwab by 6.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 20,866 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 1,217 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Charles Schwab by 0.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,429 shares of the financial services provider’s stock worth $3,937,000 after purchasing an additional 231 shares during the period. GSA Capital Partners LLP acquired a new stake in Charles Schwab during the 1st quarter worth approximately $489,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Charles Schwab in the 1st quarter valued at $350,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.0 %

SCHW opened at $70.96 on Tuesday. The company has a market cap of $126.20 billion, a P/E ratio of 27.72, a PEG ratio of 1.63 and a beta of 0.96. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $66.52 and its 200-day moving average is $69.47. The Charles Schwab Co. has a 1-year low of $53.49 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating 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 firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business posted $0.77 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Insider Activity

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 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 owns 554,929 shares of the company’s stock, valued at $35,543,202.45. 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. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now 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. Over the last three months, insiders have sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. TD Cowen reaffirmed a “hold” rating and set a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. UBS Group cut their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. The Goldman Sachs Group raised their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Bank of America cut their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.94.

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.