TCTC Holdings LLC Sells 2,673 Shares of The Charles Schwab Co. (NYSE:SCHW)

TCTC Holdings LLC decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,568 shares of the financial services provider’s stock after selling 2,673 shares during the quarter. TCTC Holdings LLC’s holdings in Charles Schwab were worth $11,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SCHW. Carmel Capital Partners LLC increased its position in shares of Charles Schwab by 7.4% during the third quarter. Carmel Capital Partners LLC now owns 26,667 shares of the financial services provider’s stock valued at $1,728,000 after buying an additional 1,832 shares during the period. Bridges Investment Management Inc. grew its stake in Charles Schwab by 27.6% during the third quarter. Bridges Investment Management Inc. now owns 28,140 shares of the financial services provider’s stock valued at $1,824,000 after acquiring an additional 6,085 shares in the last quarter. Assetmark Inc. increased its holdings in Charles Schwab by 24.1% during the 3rd quarter. Assetmark Inc. now owns 172,042 shares of the financial services provider’s stock worth $11,150,000 after acquiring an additional 33,454 shares during the period. Beta Wealth Group Inc. lifted its stake in Charles Schwab by 7.8% in the 3rd quarter. Beta Wealth Group Inc. now owns 6,903 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 501 shares in the last quarter. Finally, Washington Trust Advisors Inc. boosted its holdings in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James lowered their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. JMP Securities increased their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.94.

Charles Schwab Stock Up 1.3 %

Shares of Charles Schwab stock opened at $73.90 on Friday. The company’s fifty day simple moving average is $67.24 and its two-hundred day simple moving average is $69.52. The Charles Schwab Co. has a 12-month low of $53.49 and a 12-month high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The company has a market cap of $131.43 billion, a P/E ratio of 28.86, a PEG ratio of 1.74 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm 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 business earned $0.77 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,465 shares of company stock worth $8,050,109. 6.60% of the stock is currently owned by company insiders.

Charles Schwab 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.