Clear Harbor Asset Management LLC Purchases 11,820 Shares of The Charles Schwab Co. (NYSE:SCHW)

Clear Harbor Asset Management LLC lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 207.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,531 shares of the financial services provider’s stock after purchasing an additional 11,820 shares during the period. Clear Harbor Asset Management LLC’s holdings in Charles Schwab were worth $1,136,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SCHW. Country Trust Bank bought a new position in shares of Charles Schwab during the 2nd quarter worth $26,000. American Capital Advisory LLC purchased a new position in shares of Charles Schwab in the second quarter worth about $27,000. Fortitude Family Office LLC boosted its holdings in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the period. CGC Financial Services LLC bought a new position in shares of Charles Schwab in the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab in the second quarter worth $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now owns 551,329 shares in the company, valued at $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,001 shares of company stock worth $12,512,592 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SCHW shares. Morgan Stanley upped their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday. Cowen upped their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Citigroup dropped their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. 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 report on Wednesday, October 16th. Finally, Raymond James dropped their price objective on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. 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 stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average price target of $73.94.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $71.82 on Friday. The company has a market capitalization of $127.64 billion, a P/E ratio of 30.05, a PEG ratio of 1.63 and a beta of 0.97. The Charles Schwab Co. has a fifty-two week low of $49.16 and a fifty-two week high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a 50 day moving average price of $65.73 and a two-hundred day moving average price of $69.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS. Analysts expect that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s payout ratio is presently 41.84%.

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.