Sheaff Brock Investment Advisors LLC Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

Sheaff Brock Investment Advisors LLC reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 9.4% during the 1st quarter, Holdings Channel reports. The firm owned 8,260 shares of the financial services provider’s stock after selling 860 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Charles Schwab were worth $598,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Charles Schwab by 4.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after acquiring an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock worth $1,281,584,000 after purchasing an additional 296,317 shares in the last quarter. Finally, Norges Bank acquired a new position in Charles Schwab in the 4th quarter valued at $950,192,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the completion of the transaction, the director now owns 574,257 shares in the company, valued at approximately $45,027,491.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $78.41, for a total transaction of $705,690.00. Following the completion of the transaction, the director now directly owns 574,257 shares of the company’s stock, valued at approximately $45,027,491.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $62.05 per share, with a total value of $620,500.00. Following the purchase, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The disclosure for this purchase can be found here. Insiders sold 410,084 shares of company stock valued at $30,616,734 in the last three months. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Trading Up 0.6 %

Shares of Charles Schwab stock traded up $0.37 on Friday, reaching $66.61. The company had a trading volume of 11,164,745 shares, compared to its average volume of 8,005,777. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $118.38 billion, a PE ratio of 27.87, a PEG ratio of 1.20 and a beta of 0.99. The firm’s 50 day moving average price is $72.34 and its two-hundred day moving average price is $70.01. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a return on equity of 18.65% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the previous year, the company posted $0.75 EPS. Charles Schwab’s revenue was up .7% compared to the same quarter last year. Sell-side analysts predict that The Charles Schwab Co. will post 3.09 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.50%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JMP Securities dropped their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a report on Tuesday. Bank of America dropped their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Deutsche Bank Aktiengesellschaft dropped their price target on Charles Schwab from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Morgan Stanley dropped their target price on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $75.20.

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.