DAVENPORT & Co LLC Decreases Stock Holdings in The Charles Schwab Corporation $SCHW

DAVENPORT & Co LLC cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 26.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,211 shares of the financial services provider’s stock after selling 78,030 shares during the period. DAVENPORT & Co LLC’s holdings in Charles Schwab were worth $20,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in SCHW. Princeton Global Asset Management LLC acquired a new position in Charles Schwab during the second quarter worth $25,000. RMG Wealth Management LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the period. Activest Wealth Management boosted its position in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares during the last quarter. Finally, Hoese & Co LLP grew its holdings in shares of Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. BMO Capital Markets assumed coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective on the stock. TD Cowen raised their target price on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $108.84.

Charles Schwab Stock Up 0.5%

Shares of NYSE SCHW opened at $101.73 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $94.64 and its two-hundred day moving average is $94.03. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $102.11. The firm has a market cap of $180.77 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 0.82 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. Research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s payout ratio is currently 25.29%.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.