Park Avenue Securities LLC Sells 2,970 Shares of The Charles Schwab Co. (NYSE:SCHW)

Park Avenue Securities LLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 12.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,815 shares of the financial services provider’s stock after selling 2,970 shares during the period. Park Avenue Securities LLC’s holdings in Charles Schwab were worth $1,541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. lifted its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Charles Schwab during the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC purchased a new position in Charles Schwab during the 3rd quarter valued at about $31,000. Future Financial Wealth Managment LLC purchased a new position in Charles Schwab during the 3rd quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Charles Schwab in the 3rd quarter valued at about $33,000. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,823 shares of company stock worth $2,171,194. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Cowen boosted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley boosted their price target on shares of Charles Schwab from $74.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday. The Goldman Sachs Group boosted their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Jefferies Financial Group boosted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Bank of America reduced their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $81.41.

Charles Schwab Trading Up 1.4 %

Shares of Charles Schwab stock opened at $76.53 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $83.35. The firm has a market capitalization of $136.20 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.19 and a beta of 0.99. The firm’s 50 day simple moving average is $77.68 and its two-hundred day simple moving average is $70.65.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. Charles Schwab’s payout ratio is 39.06%.

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.