The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Essex Savings Bank

Essex Savings Bank trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,984 shares of the financial services provider’s stock after selling 1,424 shares during the period. Essex Savings Bank’s holdings in Charles Schwab were worth $1,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Country Trust Bank acquired a new stake in shares of Charles Schwab in the second quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in Charles Schwab during the third quarter worth about $25,000. Washington Trust Advisors Inc. increased 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 worth $25,000 after purchasing an additional 149 shares during the last quarter. Fortitude Family Office LLC increased 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 worth $29,000 after purchasing an additional 192 shares during the last quarter. Finally, American Capital Advisory LLC acquired a new stake in Charles Schwab during the second quarter worth about $27,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,465 shares of company stock worth $8,050,109 over the last 90 days. 6.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Raymond James cut their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Citigroup lowered their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Finally, Wells Fargo & Company increased their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Two equities 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Trading Up 1.3 %

NYSE SCHW opened at $73.90 on Friday. The firm has a 50 day simple moving average of $67.24 and a 200-day simple 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. The Charles Schwab Co. has a one year low of $53.49 and a one year high of $79.49. The firm has a market cap of $131.43 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.74 and a beta of 0.96.

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

Charles Schwab Announces Dividend

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 of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s dividend payout ratio is currently 39.06%.

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.