Cassaday & Co Wealth Management LLC Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Cassaday & Co Wealth Management LLC lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,500 shares of the financial services provider’s stock after purchasing an additional 581 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Charles Schwab were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patten & Patten Inc. TN raised its stake in Charles Schwab by 155.9% during the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after buying an additional 63,463 shares during the last quarter. Teewinot Capital Advisers L.L.C. raised its position in shares of Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the last quarter. Iowa State Bank boosted its stake in Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares in the last quarter. Equity Investment Corp grew its position in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after purchasing an additional 140,643 shares during the last quarter. Finally, Radnor Capital Management LLC purchased a new stake in Charles Schwab during the 3rd quarter valued at about $6,081,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on 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 sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 103,645 shares of company stock valued at $7,440,627 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.9 %

NYSE SCHW opened at $81.40 on Tuesday. The stock’s 50-day moving average price is $69.10 and its 200-day moving average price is $69.64. The company has a market capitalization of $144.86 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52 week low of $55.42 and a 52 week high of $82.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share 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 16.92%. 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 posted $0.77 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. Charles Schwab’s payout ratio is 39.06%.

Analyst Ratings Changes

Several research analysts have recently issued reports on SCHW shares. Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Raymond James lowered their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. 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. Finally, Citigroup decreased their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.