Pittenger & Anderson Inc. Sells 9,875 Shares of The Charles Schwab Co. (NYSE:SCHW)

Pittenger & Anderson Inc. trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 15.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,669 shares of the financial services provider’s stock after selling 9,875 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Charles Schwab were worth $3,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. M&G Plc acquired a new position in shares of Charles Schwab during the first quarter worth approximately $11,452,000. Teewinot Capital Advisers L.L.C. lifted its holdings in Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after buying an additional 64,041 shares in the last quarter. Iowa State Bank boosted its position in Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after buying an additional 7,829 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Charles Schwab by 8.3% in the 1st quarter. Orion Portfolio Solutions LLC now owns 134,897 shares of the financial services provider’s stock valued at $9,758,000 after buying an additional 10,393 shares during the period. Finally, Fiduciary Financial Group LLC bought a new stake in shares of Charles Schwab during the second quarter worth $3,697,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.0 %

Charles Schwab stock opened at $70.96 on Tuesday. The company has a 50 day moving average of $66.52 and a 200-day moving average of $69.47. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a twelve month low of $53.49 and a twelve month high of $79.49. The stock has a market capitalization of $126.20 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced 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. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 EPS. On average, equities research 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 announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors 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 1.41%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio is presently 39.06%.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,465 shares of company stock worth $8,050,109. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Citigroup reduced their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Raymond James dropped their price target on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Wells Fargo & Company raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.94.

Charles Schwab Company 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.