The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,796 shares of the financial services provider’s stock after selling 638 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Charles Schwab were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Washington Trust Advisors Inc. lifted its position in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab in the 3rd quarter valued at about $25,000. Country Trust Bank purchased a new stake in shares of Charles Schwab in the second quarter worth about $26,000. American Capital Advisory LLC acquired a new stake in Charles Schwab during the second quarter worth about $27,000. Finally, Fortitude Family Office LLC raised its position in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on SCHW. JPMorgan Chase & Co. upped 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. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Jefferies Financial Group cut their price target 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. Finally, Cowen increased their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Up 2.5 %

Shares of NYSE SCHW opened at $80.19 on Friday. The stock has a market cap of $142.71 billion, a PE ratio of 31.32, a P/E/G ratio of 1.71 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $55.09 and a 12-month high of $82.50. The company has a 50-day moving average of $68.05 and a 200 day moving average of $69.54.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion during 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. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Charles Schwab Co. will post 3.12 EPS 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. 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 annualized dividend and a dividend yield of 1.25%. Charles Schwab’s payout ratio is 39.06%.

Insider Activity at Charles Schwab

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 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,645 shares of company stock valued at $7,440,627. 6.60% of the stock is owned by company insiders.

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.