The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Haverford Trust Co

Haverford Trust Co decreased its stake in The Charles Schwab Co. (NYSE:SCHW) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,094 shares of the financial services provider’s stock after selling 714 shares during the period. Haverford Trust Co’s holdings in Charles Schwab were worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. M&G Plc purchased a new stake in Charles Schwab in the first quarter valued at approximately $11,452,000. Patten & Patten Inc. TN boosted its stake in Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after purchasing an additional 63,463 shares during the period. Teewinot Capital Advisers L.L.C. grew its position 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 purchasing an additional 64,041 shares during the last quarter. Iowa State Bank raised its holdings in shares of Charles Schwab by 37.9% in the third 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. Finally, Radnor Capital Management LLC acquired a new stake in shares of Charles Schwab during the third quarter worth about $6,081,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $80.19 on Friday. The company’s fifty day simple moving average is $68.05 and its 200-day simple moving average is $69.54. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52 week low of $55.09 and a 52 week high of $82.50. The company has a market cap of $142.71 billion, a PE ratio of 31.32, a P/E/G ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping 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 return on equity of 16.92% and a net margin of 27.47%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Announces Dividend

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

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,645 shares of company stock valued at $7,440,627. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company lifted 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 report on Wednesday, October 16th. Bank of America cut their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Barclays lifted their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.