Bleakley Financial Group LLC Has $1.63 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Bleakley Financial Group LLC decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 5.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,116 shares of the financial services provider’s stock after selling 1,408 shares during the period. Bleakley Financial Group LLC’s holdings in Charles Schwab were worth $1,628,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $5,230,657,000 after acquiring an additional 2,946,327 shares in the last quarter. Legal & General Group Plc grew its stake in 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 valued at $802,193,000 after acquiring an additional 225,397 shares in the last quarter. Allen Investment Management LLC increased its holdings in shares of Charles Schwab by 3.0% in the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after purchasing an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of Charles Schwab by 8.9% in the first 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. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SCHW shares. TD Cowen reiterated a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Barclays lifted their price objective on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, UBS Group dropped their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.59.

Insider Activity at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents 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 worth $12,512,592 in the last ninety days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

NYSE:SCHW opened at $71.36 on Friday. The firm has a market capitalization of $126.91 billion, a PE ratio of 29.61, a PEG ratio of 1.47 and a beta of 0.97. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The firm’s fifty day simple moving average is $64.97 and its 200 day simple moving average is $69.51.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is currently 41.49%.

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.