Beta Wealth Group Inc. Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Beta Wealth Group Inc. lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,903 shares of the financial services provider’s stock after purchasing an additional 501 shares during the quarter. Beta Wealth Group Inc.’s holdings in Charles Schwab were worth $447,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities research analysts recently commented on SCHW shares. Cowen lifted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Morgan Stanley upped their target price on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. JMP Securities lifted their price target on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Two 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.94.

Charles Schwab Price Performance

Charles Schwab stock opened at $73.89 on Friday. The company has a market cap of $131.41 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The Charles Schwab Co. has a one year low of $53.49 and a one year high of $79.49. The business has a fifty day moving average of $67.24 and a two-hundred day moving average of $69.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, 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 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 yield of 1.35%. Charles Schwab’s payout ratio is 39.06%.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. 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 90 days, insiders have sold 113,465 shares of company stock valued at $8,050,109. Insiders own 6.60% of the company’s stock.

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.