The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 71.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,820 shares of the financial services provider’s stock after purchasing an additional 2,429 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Charles Schwab were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SCHW. Vanguard Group Inc. lifted its stake in Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after purchasing an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares in the last quarter. Legal & General Group Plc increased its stake in Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares in the last quarter. Allen Investment Management LLC raised its holdings in shares of Charles Schwab by 3.0% during 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 period. Finally, Lazard Asset Management LLC raised its stake in Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock valued at $528,445,000 after purchasing an additional 596,589 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SCHW. Jefferies Financial Group reduced their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Bank of America dropped their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley cut their price objective on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research note on Thursday, August 22nd. Finally, Citigroup decreased their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.25.

Charles Schwab Trading Up 0.3 %

Shares of NYSE:SCHW opened at $67.87 on Tuesday. The stock has a market capitalization of $120.70 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97. The company’s 50-day moving average price is $64.23 and its two-hundred day moving average price is $69.49. 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.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.47%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.49%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Walter W. Bettinger acquired 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was acquired at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at approximately $54,822,000.02. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 98,856 shares of company stock worth $6,398,604. 6.60% of the stock is owned by 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.