SageView Advisory Group LLC Sells 6,255 Shares of The Charles Schwab Co. (NYSE:SCHW)

SageView Advisory Group LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 25.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 18,492 shares of the financial services provider’s stock after selling 6,255 shares during the period. SageView Advisory Group LLC’s holdings in Charles Schwab were worth $1,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. Country Trust Bank acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in Charles Schwab during the third quarter valued at approximately $25,000. Washington Trust Advisors Inc. grew its holdings in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab in the second quarter worth $27,000. Finally, CGC Financial Services LLC acquired a new stake in shares of Charles Schwab in the second quarter worth $29,000. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Cowen boosted their price objective on 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 lowered their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Raymond James reduced their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average target price of $75.56.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $81.84 on Friday. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35. 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 firm has a market cap of $145.64 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The firm’s 50-day simple moving average is $73.73 and its 200-day simple moving average is $70.18.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate 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%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. As a group, research analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. Charles Schwab’s payout ratio is presently 39.06%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s 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 transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s 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 of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,968 shares of company stock worth $9,419,271. Corporate insiders own 6.60% of the company’s stock.

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.