Verity Asset Management Inc. Raises Holdings in The Charles Schwab Co. (NYSE:SCHW)

Verity Asset Management Inc. boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 51.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,291 shares of the financial services provider’s stock after acquiring an additional 2,133 shares during the period. Verity Asset Management Inc.’s holdings in Charles Schwab were worth $408,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Country Trust Bank acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $26,000. American Capital Advisory LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at $27,000. Fortitude Family Office LLC grew its position in 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 purchasing an additional 192 shares during the last quarter. CGC Financial Services LLC acquired a new position in Charles Schwab in the second quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Charles Schwab in the second quarter valued at $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $73.10 on Friday. The firm’s 50-day moving average is $66.90 and its two-hundred day moving average is $69.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $130.00 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.63 and a beta of 0.96. The Charles Schwab Co. has a 12-month low of $53.49 and a 12-month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued 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. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. Equities analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. Charles Schwab’s payout ratio is currently 39.06%.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SCHW shares. Wells Fargo & Company raised their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Morgan Stanley upped their price target on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. TD Cowen reiterated a “hold” rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.94.

Charles Schwab 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.