Greystone Financial Group LLC Has $1.05 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Greystone Financial Group LLC lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 88.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,155 shares of the financial services provider’s stock after purchasing an additional 7,582 shares during the quarter. Greystone Financial Group LLC’s holdings in Charles Schwab were worth $1,047,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Country Trust Bank bought a new stake in Charles Schwab in the 2nd quarter valued at $26,000. Fortitude Family Office LLC raised its holdings in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares in the last quarter. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. CGC Financial Services LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. Bank of America lowered their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Jefferies Financial Group reduced their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, Barclays upped their price target on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $73.59.

Insider Activity

In other news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the sale, the insider now owns 61,887 shares of the company’s stock, valued at $4,035,032.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,001 shares of company stock valued at $12,512,592 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $71.71 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a 50-day simple moving average of $65.45 and a two-hundred day simple moving average of $69.50. The firm has a market capitalization of $127.53 billion, a PE ratio of 28.01, 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 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. On average, analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

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.