Allen Capital Group LLC Increases Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Allen Capital Group LLC boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,968 shares of the financial services provider’s stock after purchasing an additional 2,530 shares during the quarter. Allen Capital Group LLC’s holdings in Charles Schwab were worth $4,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Country Trust Bank purchased a new stake in Charles Schwab in the second quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab during the third quarter worth approximately $25,000. Washington Trust Advisors Inc. raised its stake in shares of 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 acquiring an additional 149 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of 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 acquiring an additional 192 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the second quarter worth approximately $27,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JMP Securities lifted their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America decreased their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company lifted 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. Finally, JPMorgan Chase & Co. lifted 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. Two investment 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.18.

Insider Activity

In related news, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at $36,057,774.01. The trade was a 2.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,929 shares of company stock worth $8,196,624. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $80.80 on Friday. The stock has a market cap of $143.80 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The firm’s fifty day simple moving average is $70.17 and its 200 day simple moving average is $69.82. The Charles Schwab Co. has a twelve month low of $55.42 and a twelve month high of $82.50. The company has a quick ratio of 0.47, a current 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 earnings per share 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 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 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.