Raymond James Trust N.A. Reduces Stake in The Charles Schwab Co. (NYSE:SCHW)

Raymond James Trust N.A. decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,029 shares of the financial services provider’s stock after selling 2,518 shares during the quarter. Raymond James Trust N.A.’s holdings in Charles Schwab were worth $1,622,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC lifted its position in shares of Charles Schwab by 2.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after buying an additional 142 shares during the last quarter. GS Investments Inc. boosted its stake in Charles Schwab by 0.3% in the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after acquiring an additional 146 shares in the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Arcataur Capital Management LLC increased its position in shares of Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 150 shares in the last quarter. Finally, Tandem Capital Management Corp ADV lifted its holdings in shares of Charles Schwab by 0.3% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after purchasing an additional 150 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $81.26 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a one year low of $55.59 and a one year high of $82.50. The firm has a market capitalization of $144.62 billion, a P/E ratio of 31.74, a PEG ratio of 1.75 and a beta of 0.96. The company’s fifty day moving average is $70.55 and its two-hundred day moving average is $69.81.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SCHW. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Raymond James reduced their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Morgan Stanley raised their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Barclays upped 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, JMP Securities raised their price target on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.18.

Insider Buying and Selling

In other news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction 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 completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’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 transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,929 shares of company stock valued at $8,196,624. 6.60% of the stock is owned by insiders.

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.