Financial Counselors Inc. Purchases 14,495 Shares of The Charles Schwab Co. (NYSE:SCHW)

Financial Counselors Inc. raised its position in The Charles Schwab Co. (NYSE:SCHW) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 275,976 shares of the financial services provider’s stock after buying an additional 14,495 shares during the period. Financial Counselors Inc.’s holdings in Charles Schwab were worth $17,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. Fisher Asset Management LLC increased its stake in shares of Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after buying an additional 493,264 shares during the period. Legal & General Group Plc raised its position in shares of Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after acquiring an additional 225,397 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Charles Schwab by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,142,602 shares of the financial services provider’s stock worth $592,532,000 after acquiring an additional 331,846 shares during the period. Finally, Allen Investment Management LLC boosted its holdings in Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after acquiring an additional 251,485 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several analyst reports. Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.18.

Charles Schwab Stock Up 0.4 %

Charles Schwab stock opened at $82.60 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average price is $71.66 and its two-hundred day moving average price is $69.94. The firm has a market capitalization of $147.00 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $55.59 and a 1-year high of $82.65.

Charles Schwab (NYSE:SCHW) last announced 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. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. On average, equities research analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,968 shares of company stock worth $9,419,271. Corporate insiders own 6.60% of the company’s stock.

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.