Pinnacle Associates Ltd. Raises Holdings in The Charles Schwab Co. (NYSE:SCHW)

Pinnacle Associates Ltd. lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,537 shares of the financial services provider’s stock after purchasing an additional 3,204 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Charles Schwab were worth $6,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Trust Direct Indexing L.P. boosted its holdings in Charles Schwab by 8.9% in the third quarter. First Trust Direct Indexing L.P. now owns 42,492 shares of the financial services provider’s stock worth $2,754,000 after purchasing an additional 3,473 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of Charles Schwab during the 3rd quarter valued at $216,000. Trajan Wealth LLC boosted its stake in shares of Charles Schwab by 15.0% in the 3rd quarter. Trajan Wealth LLC now owns 58,248 shares of the financial services provider’s stock worth $3,775,000 after buying an additional 7,606 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its position in Charles Schwab by 6.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 21,352 shares of the financial services provider’s stock valued at $1,384,000 after acquiring an additional 1,256 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its holdings in Charles Schwab by 18.9% in the third quarter. Vanguard Capital Wealth Advisors now owns 9,450 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 1,500 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

SCHW stock opened at $71.10 on Thursday. 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 company’s fifty day moving average price is $66.13 and its 200-day moving average price is $69.52. The Charles Schwab Co. has a one year low of $50.30 and a one year high of $79.49. The company has a market capitalization of $126.36 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping 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 17.52%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analyst Ratings Changes

SCHW has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price target on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Barclays upped their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America cut their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.94.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the 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 transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’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 sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab 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 completion of the transaction, the director now owns 551,329 shares of the company’s stock, 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. Insiders have sold a total of 113,465 shares of company stock valued at $8,050,109 in the last quarter. 6.60% of the stock is currently owned by insiders.

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.