Chicago Partners Investment Group LLC Lowers Holdings in The Charles Schwab Co. (NYSE:SCHW)

Chicago Partners Investment Group LLC reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,536 shares of the financial services provider’s stock after selling 5,313 shares during the period. Chicago Partners Investment Group LLC’s holdings in Charles Schwab were worth $1,975,000 at the end of the most recent quarter.

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

Charles Schwab Stock Up 0.2 %

SCHW stock opened at $70.94 on Friday. The Charles Schwab Co. has a 52 week low of $53.49 and a 52 week 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 $126.16 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.62 and a beta of 0.96. The company’s 50-day moving average price is $66.39 and its 200 day moving average price is $69.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $0.77 EPS. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Analyst Ratings Changes

Several research firms have commented on SCHW. Morgan Stanley lifted their price target on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Cowen increased their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Bank of America dropped their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their target price 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $73.94.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’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 owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,465 shares of company stock valued at $8,050,109 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

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.