Cerity Partners LLC Acquires 102,761 Shares of The Charles Schwab Co. (NYSE:SCHW)

Cerity Partners LLC increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,086,616 shares of the financial services provider’s stock after purchasing an additional 102,761 shares during the period. Cerity Partners LLC’s holdings in Charles Schwab were worth $70,423,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Great Valley Advisor Group Inc. raised its position in shares of Charles Schwab by 20.1% in the third quarter. Great Valley Advisor Group Inc. now owns 30,228 shares of the financial services provider’s stock valued at $1,959,000 after buying an additional 5,065 shares in the last quarter. Nicolet Advisory Services LLC raised its position in shares of Charles Schwab by 30.2% in the third quarter. Nicolet Advisory Services LLC now owns 20,155 shares of the financial services provider’s stock valued at $1,278,000 after buying an additional 4,677 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Charles Schwab in the third quarter valued at approximately $636,000. Icon Wealth Advisors LLC raised its position in shares of Charles Schwab by 72.0% in the third quarter. Icon Wealth Advisors LLC now owns 9,100 shares of the financial services provider’s stock valued at $590,000 after buying an additional 3,808 shares in the last quarter. Finally, Allen Capital Group LLC raised its position in shares of Charles Schwab by 3.7% in the third quarter. Allen Capital Group LLC now owns 70,968 shares of the financial services provider’s stock valued at $4,599,000 after buying an additional 2,530 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.6 %

Shares of NYSE:SCHW opened at $81.26 on Friday. The company has a fifty day moving average of $70.55 and a 200-day moving average of $69.81. The company has a market capitalization of $144.62 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 52-week low of $55.59 and a 52-week high of $82.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping 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 analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted 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. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Raymond James lowered their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, JMP Securities boosted their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.18.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction 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 sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,929 shares of company stock valued at $8,196,624 over the last 90 days. 6.60% of the stock is owned by insiders.

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.