YorkBridge Wealth Partners LLC decreased its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 11.0% in the third quarter, Holdings Channel reports. The firm owned 5,430 shares of the financial services provider’s stock after selling 671 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in Charles Schwab were worth $227,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in SCHW. FNY Investment Advisers LLC raised its stake in shares of Charles Schwab by 133.3% in the second quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Charles Schwab by 526.2% in the third quarter. Gradient Investments LLC now owns 814 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 684 shares during the last quarter. Glassman Wealth Services raised its stake in shares of Charles Schwab by 51.0% in the second quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 371 shares during the last quarter. First PREMIER Bank acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $49,000. Finally, Mirova acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 79.01% of the company’s stock.
In other news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $38.97, for a total transaction of $145,747.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 105,422 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.08, for a total transaction of $4,225,313.76. The disclosure for this sale can be found here. Insiders have sold 219,677 shares of company stock valued at $8,993,241 in the last ninety days. Insiders own 10.90% of the company’s stock.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.65 billion. Charles Schwab had a net margin of 35.12% and a return on equity of 20.85%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, analysts expect that Charles Schwab Co. will post 2.7 EPS for the current year.
A number of brokerages recently weighed in on SCHW. Barclays reissued a “sell” rating and issued a $35.00 price target on shares of Charles Schwab in a report on Tuesday. Argus reissued a “buy” rating and issued a $52.00 price target (down previously from $57.00) on shares of Charles Schwab in a report on Wednesday, July 17th. UBS Group raised their price target on shares of Charles Schwab from $33.00 to $35.00 and gave the company a “sell” rating in a report on Wednesday, October 16th. Wells Fargo & Co reissued a “hold” rating on shares of Charles Schwab in a report on Tuesday, October 15th. Finally, Credit Suisse Group lowered their price target on shares of Charles Schwab from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $44.32.
Charles Schwab Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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