Fort Pitt Capital Group LLC Has $22.90 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Fort Pitt Capital Group LLC decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 59.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,404 shares of the financial services provider’s stock after selling 510,741 shares during the period. Fort Pitt Capital Group LLC’s holdings in Charles Schwab were worth $22,904,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Darsana Capital Partners LP increased its holdings in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after purchasing an additional 2,000,000 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after purchasing an additional 1,644,931 shares during the period. Mondrian Investment Partners LTD increased its stake in Charles Schwab by 28,736.1% in the first quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after acquiring an additional 1,480,485 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Charles Schwab in the first quarter valued at about $105,563,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $70.94 on Friday. The Charles Schwab Co. has a 1 year low of $53.49 and a 1 year high of $79.49. The firm’s 50 day moving average is $66.39 and its 200-day moving average is $69.50. The firm has a market capitalization of $126.16 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.62 and a beta of 0.96. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.41%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James lowered their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Bank of America lowered 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. Citigroup lowered 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. Wells Fargo & Company upped their target price 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, UBS Group lowered their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.94.

Insider Activity at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,465 shares of company stock worth $8,050,109 over the last ninety days. Company insiders own 6.60% of the company’s stock.

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.