The Charles Schwab Co. (NYSE:SCHW) Stake Lowered by Haverford Trust Co

Haverford Trust Co trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,094 shares of the financial services provider’s stock after selling 714 shares during the quarter. Haverford Trust Co’s holdings in Charles Schwab were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab during the third quarter valued at approximately $25,000. Country Trust Bank bought a new stake in Charles Schwab during the second quarter worth approximately $26,000. American Capital Advisory LLC acquired a new stake in Charles Schwab in the second quarter worth approximately $27,000. Finally, Fortitude Family Office LLC boosted its stake in Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW stock opened at $80.19 on Friday. The firm has a 50 day simple moving average of $68.05 and a 200 day simple moving average of $69.54. The Charles Schwab Co. has a 52 week low of $55.09 and a 52 week high of $82.50. The stock has a market cap of $142.71 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. Research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Charles Schwab’s payout ratio is 39.06%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group decreased their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Raymond James dropped their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. 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 report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price objective on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.18.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’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 completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,645 shares of company stock worth $7,440,627. Insiders own 6.60% of the company’s stock.

About Charles Schwab

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.