The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 34.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,722 shares of the financial services provider’s stock after selling 3,991 shares during the period. Axxcess Wealth Management LLC’s holdings in Charles Schwab were worth $500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Capital Wealth Partners LLC grew its holdings in shares of Charles Schwab by 7.6% during the third quarter. Legacy Capital Wealth Partners LLC now owns 8,290 shares of the financial services provider’s stock worth $537,000 after buying an additional 586 shares during the last quarter. Eagle Bluffs Wealth Management LLC grew its holdings in shares of Charles Schwab by 1.2% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 38,808 shares of the financial services provider’s stock worth $2,515,000 after buying an additional 457 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in shares of Charles Schwab by 0.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 138,813 shares of the financial services provider’s stock worth $8,996,000 after buying an additional 488 shares during the last quarter. Carmel Capital Partners LLC grew its holdings in shares of Charles Schwab by 7.4% during the third quarter. Carmel Capital Partners LLC now owns 26,667 shares of the financial services provider’s stock worth $1,728,000 after buying an additional 1,832 shares during the last quarter. Finally, Bridges Investment Management Inc. grew its holdings in shares of Charles Schwab by 27.6% during the third quarter. Bridges Investment Management Inc. now owns 28,140 shares of the financial services provider’s stock worth $1,824,000 after buying an additional 6,085 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.1 %

Shares of Charles Schwab stock opened at $78.27 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The Charles Schwab Co. has a 1 year low of $54.24 and a 1 year high of $79.49. The company has a market capitalization of $139.29 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.79 and a beta of 0.96. The business has a 50 day moving average price of $67.76 and a 200 day moving average price of $69.48.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.28%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SCHW shares. Raymond James lowered their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Wells Fargo & Company lifted their price objective on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Cowen lifted their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.18.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’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 in the company, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on 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 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. In the last three months, insiders sold 103,645 shares of company stock worth $7,440,627. Insiders own 6.60% of the company’s stock.

Charles Schwab 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.