The Charles Schwab Co. (NYSE:SCHW) Position Cut by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in The Charles Schwab Co. (NYSE:SCHW) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,230 shares of the financial services provider’s stock after selling 3,923 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Charles Schwab were worth $2,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCHW. Washington Trust Advisors Inc. raised its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab in the third quarter worth approximately $25,000. Country Trust Bank purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new position in Charles Schwab in the 2nd quarter worth approximately $27,000. Finally, Fortitude Family Office LLC grew its position in Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction on Monday, November 11th. The shares were 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 of the company’s stock, valued at $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The transaction 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 firm’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 owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,645 shares of company stock worth $7,440,627 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 0.6 %

SCHW opened at $80.64 on Friday. The firm’s fifty day moving average is $68.74 and its two-hundred day moving average is $69.66. The firm has a market cap of $143.51 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $55.09 and a twelve month high of $82.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.42 and a current ratio of 0.47.

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

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 dividend on an annualized basis and a yield of 1.24%. Charles Schwab’s dividend payout ratio is 39.06%.

Analysts Set New Price Targets

SCHW has been the topic of several research analyst reports. Citigroup lowered their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Wells Fargo & Company boosted 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. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Jefferies Financial Group dropped their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Bank of America reduced their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company 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 issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.18.

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.