Crescent Grove Advisors LLC Decreases Holdings in The Charles Schwab Co. (NYSE:SCHW)

Crescent Grove Advisors LLC lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.7% during the third quarter, HoldingsChannel reports. The fund owned 7,320 shares of the financial services provider’s stock after selling 200 shares during the period. Crescent Grove Advisors LLC’s holdings in Charles Schwab were worth $474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nordea Investment Management AB lifted its stake in shares of Charles Schwab by 5.6% in the 1st quarter. Nordea Investment Management AB now owns 109,354 shares of the financial services provider’s stock worth $7,898,000 after acquiring an additional 5,810 shares during the period. GSA Capital Partners LLP purchased a new stake in Charles Schwab in the 1st quarter valued at approximately $489,000. Larson Financial Group LLC boosted its holdings in Charles Schwab by 31.2% in the 1st quarter. Larson Financial Group LLC now owns 2,603 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 619 shares in the last quarter. Signaturefd LLC increased its position in Charles Schwab by 4.0% during the 1st quarter. Signaturefd LLC now owns 27,090 shares of the financial services provider’s stock worth $1,960,000 after purchasing an additional 1,053 shares during the period. Finally, DAVENPORT & Co LLC raised its stake in shares of Charles Schwab by 1.2% during the 1st quarter. DAVENPORT & Co LLC now owns 255,625 shares of the financial services provider’s stock worth $18,493,000 after buying an additional 2,950 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SCHW shares. Raymond James cut their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Jefferies Financial Group decreased their price objective on shares of 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. upped their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Cowen lifted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.94.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the sale, the director now owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction that occurred 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 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Up 0.5 %

SCHW stock opened at $71.33 on Wednesday. The company’s 50 day simple moving average is $66.67 and its 200-day simple moving average is $69.45. 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 current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $126.86 billion, a P/E ratio of 27.86, a P/E/G ratio of 1.63 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (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 17.52%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.11 EPS 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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

About Charles Schwab

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.