Malaga Cove Capital LLC Trims Holdings in The Charles Schwab Co. (NYSE:SCHW)

Malaga Cove Capital LLC lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.0% in the third quarter, Holdings Channel reports. The institutional investor owned 47,941 shares of the financial services provider’s stock after selling 473 shares during the quarter. Charles Schwab accounts for about 1.2% of Malaga Cove Capital LLC’s portfolio, making the stock its 25th largest position. Malaga Cove Capital LLC’s holdings in Charles Schwab were worth $3,107,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Country Trust Bank bought a new position in shares of Charles Schwab in the 2nd quarter worth about $26,000. American Capital Advisory LLC bought a new position in Charles Schwab in the second quarter worth about $27,000. Fortitude Family Office LLC boosted its stake in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the period. CGC Financial Services LLC bought a new position in shares of Charles Schwab during the second quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $29,000. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at $35,543,202.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,465 shares of company stock valued at $8,050,109 over the last three months. 6.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of recent research reports. TD Cowen restated a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Cowen upped their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Jefferies Financial Group cut their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Stock Up 6.2 %

Shares of NYSE:SCHW opened at $75.74 on Thursday. The Charles Schwab Co. has a 52 week low of $53.49 and a 52 week high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $134.69 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The firm has a 50 day simple moving average of $66.90 and a 200 day simple moving average of $69.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 17.52% 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. As a group, research analysts expect that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Charles Schwab’s dividend payout ratio is 39.06%.

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.