Main Street Financial Solutions LLC Sells 638 Shares of The Charles Schwab Co. (NYSE:SCHW)

Main Street Financial Solutions LLC trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,796 shares of the financial services provider’s stock after selling 638 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Charles Schwab were worth $440,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. M&G Plc bought a new stake in Charles Schwab in the 1st quarter worth approximately $11,452,000. Patten & Patten Inc. TN raised its stake in Charles Schwab by 155.9% during the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after purchasing an additional 63,463 shares in the last quarter. Teewinot Capital Advisers L.L.C. lifted its position in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after purchasing an additional 64,041 shares during the last quarter. Iowa State Bank grew its stake in shares of Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after buying an additional 7,829 shares in the last quarter. Finally, Radnor Capital Management LLC bought a new stake in shares of Charles Schwab in the 3rd quarter worth about $6,081,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 2.5 %

NYSE:SCHW opened at $80.19 on Friday. The Charles Schwab Co. has a 1-year low of $55.09 and a 1-year high of $82.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The firm has a market cap of $142.71 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The company has a 50-day moving average of $68.05 and a 200 day moving average of $69.54.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.77 EPS. As a group, research analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’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 transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,645 shares of company stock valued at $7,440,627 in the last 90 days. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America reduced their target price 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, StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $74.18.

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.