Smithfield Trust Co Sells 762 Shares of The Charles Schwab Co. (NYSE:SCHW)

Smithfield Trust Co cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 14.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,381 shares of the financial services provider’s stock after selling 762 shares during the period. Smithfield Trust Co’s holdings in Charles Schwab were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 4.2% in 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 purchasing an additional 2,946,327 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after buying an additional 1,711,312 shares in the last quarter. Legal & General Group Plc grew its stake in Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after buying an additional 225,397 shares during the last quarter. Allen Investment Management LLC increased its holdings in shares of Charles Schwab by 3.0% during the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after buying an additional 251,485 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake 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 valued at $528,445,000 after acquiring an additional 596,589 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SCHW. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group lowered their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays upped their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.18.

Charles Schwab Stock Up 0.4 %

NYSE:SCHW opened at $80.80 on Friday. The stock’s fifty day simple moving average is $70.17 and its 200-day simple moving average is $69.82. The firm has a market capitalization of $143.80 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.74 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $55.42 and a 12-month high of $82.50.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. Equities research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is presently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the transaction, the director now owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,929 shares of company stock worth $8,196,624. Company 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.