Hoertkorn Richard Charles Purchases New Shares in The Charles Schwab Co. (NYSE:SCHW)

Hoertkorn Richard Charles purchased a new stake in The Charles Schwab Co. (NYSE:SCHW) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 100,090 shares of the financial services provider’s stock, valued at approximately $6,487,000. Charles Schwab accounts for 2.8% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after acquiring an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD raised its stake 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 in the last quarter. Legal & General Group Plc raised its stake in shares of Charles Schwab by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares in the last quarter. Allen Investment Management LLC raised its stake in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after purchasing an additional 251,485 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after purchasing an additional 596,589 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SCHW shares. Barclays raised their price target on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. 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 research note on Wednesday, October 16th. Raymond James cut their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. UBS Group cut their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.59.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,001 shares of company stock valued at $12,512,592 in the last ninety days. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $71.71 on Thursday. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The firm has a market capitalization of $127.53 billion, a PE ratio of 28.01, a PEG ratio of 1.65 and a beta of 0.97. The business’s 50 day moving average is $65.45 and its 200-day moving average is $69.50. 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 posted 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 return on equity of 17.52% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is presently 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.