The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Parthenon LLC

Parthenon LLC boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,530 shares of the financial services provider’s stock after buying an additional 775 shares during the period. Charles Schwab accounts for approximately 1.1% of Parthenon LLC’s portfolio, making the stock its 28th biggest holding. Parthenon LLC’s holdings in Charles Schwab were worth $9,173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares during the last quarter. Darsana Capital Partners LP lifted its position in Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after acquiring an additional 2,000,000 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after purchasing an additional 1,644,931 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Charles Schwab in the first quarter valued at approximately $105,563,000. Finally, Westwood Holdings Group Inc. raised its stake in shares of Charles Schwab by 231.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock worth $108,433,000 after purchasing an additional 1,046,322 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded down $0.25 during midday trading on Wednesday, hitting $77.94. 1,578,586 shares of the stock were exchanged, compared to its average volume of 8,038,926. The stock has a market cap of $138.71 billion, a P/E ratio of 30.55, a PEG ratio of 1.78 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $54.24 and a twelve month high of $79.49. The company has a 50 day moving average price of $67.76 and a 200-day moving average price of $69.48. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (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 16.92%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 yield of 1.28%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. 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. In related news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 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 $4,396,116,784.92. The trade was 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 sold 115,965 shares of company stock valued at $8,242,659. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SCHW shares. 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. JMP Securities lifted their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a report on Wednesday, October 16th. Bank of America cut their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group dropped their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and an average price target of $74.18.

About Charles Schwab

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.