VELA Investment Management LLC Boosts Position in The Charles Schwab Co. (NYSE:SCHW)

VELA Investment Management LLC boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,657 shares of the financial services provider’s stock after purchasing an additional 313 shares during the quarter. VELA Investment Management LLC’s holdings in Charles Schwab were worth $1,533,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SCHW. Farther Finance Advisors LLC grew its position in shares of Charles Schwab by 2.8% during the third quarter. Farther Finance Advisors LLC now owns 27,350 shares of the financial services provider’s stock worth $1,773,000 after buying an additional 751 shares in the last quarter. Lebenthal Global Advisors LLC boosted its holdings in Charles Schwab by 6.2% in the third quarter. Lebenthal Global Advisors LLC now owns 16,603 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 964 shares during the period. Principal Securities Inc. boosted its holdings in Charles Schwab by 4.7% in the third quarter. Principal Securities Inc. now owns 128,180 shares of the financial services provider’s stock worth $8,307,000 after purchasing an additional 5,798 shares during the period. United Asset Strategies Inc. boosted its holdings in Charles Schwab by 3.2% in the third quarter. United Asset Strategies Inc. now owns 185,742 shares of the financial services provider’s stock worth $12,038,000 after purchasing an additional 5,679 shares during the period. Finally, AustralianSuper Pty Ltd boosted its holdings in Charles Schwab by 2,617.6% in the third 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. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock traded up $0.11 during midday trading on Friday, hitting $70.94. The company’s stock had a trading volume of 6,266,153 shares, compared to its average volume of 8,068,163. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average price is $66.39 and its 200-day moving average price is $69.53. The Charles Schwab Co. has a 12 month low of $53.49 and a 12 month high of $79.49. The company has a market capitalization of $126.16 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its quarterly 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. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the business earned $0.77 earnings per share. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid 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 yield of 1.41%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab 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 transaction, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the transaction, the director now owns 562,129 shares of the company’s stock, valued at $36,594,597.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated 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 approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SCHW has been the subject of a number of research reports. Cowen lifted their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their target price on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group raised their target price on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Citigroup cut their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Company 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.