The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 72.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,100 shares of the financial services provider’s stock after purchasing an additional 3,808 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Charles Schwab were worth $590,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SCHW. Allen Capital Group LLC grew its position in shares of Charles Schwab by 3.7% during the third quarter. Allen Capital Group LLC now owns 70,968 shares of the financial services provider’s stock worth $4,599,000 after buying an additional 2,530 shares in the last quarter. Biltmore Family Office LLC raised its holdings in Charles Schwab by 90.0% in the third quarter. Biltmore Family Office LLC now owns 5,217 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 2,471 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Charles Schwab by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,893,522 shares of the financial services provider’s stock worth $511,579,000 after acquiring an additional 66,022 shares during the last quarter. Banco Santander S.A. grew its holdings in Charles Schwab by 53.4% during the 3rd quarter. Banco Santander S.A. now owns 10,903 shares of the financial services provider’s stock worth $707,000 after acquiring an additional 3,796 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Charles Schwab by 4.4% in the 3rd quarter. Pacer Advisors Inc. now owns 111,365 shares of the financial services provider’s stock valued at $7,218,000 after purchasing an additional 4,712 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,929 shares of company stock valued at $8,196,624 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.6 %

Charles Schwab stock opened at $81.26 on Friday. The stock has a 50 day moving average of $70.55 and a two-hundred day moving average of $69.81. The Charles Schwab Co. has a twelve month low of $55.59 and a twelve month high of $82.50. The stock has a market capitalization of $144.62 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.75 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its quarterly 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. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SCHW shares. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Citigroup dropped their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Raymond James decreased their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Morgan Stanley raised their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Bank of America reduced their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab has an average rating of “Hold” and a consensus price target of $74.18.

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.