Prospera Private Wealth LLC Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Prospera Private Wealth LLC purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 482 shares of the financial services provider’s stock, valued at approximately $31,000.

Other large investors also recently added to or reduced their stakes in the company. Natixis purchased a new stake in shares of Charles Schwab during the 1st quarter valued at approximately $523,000. Gabelli Funds LLC boosted its holdings in shares of Charles Schwab by 5.8% in the first quarter. Gabelli Funds LLC now owns 52,350 shares of the financial services provider’s stock worth $3,787,000 after acquiring an additional 2,850 shares during the period. LRI Investments LLC purchased a new position in shares of Charles Schwab in the first quarter valued at $154,000. Steel Grove Capital Advisors LLC raised its stake in shares of Charles Schwab by 20.3% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 7,100 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,200 shares during the period. Finally, BOKF NA lifted its holdings in Charles Schwab by 33.9% during the 1st quarter. BOKF NA now owns 20,069 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 5,078 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $81.25 on Friday. The firm has a market cap of $144.60 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.74 and a beta of 0.96. The firm’s fifty day moving average is $70.55 and its 200 day moving average is $69.85. The Charles Schwab Co. has a 52 week low of $55.59 and a 52 week high of $82.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. 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 for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. Research analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.23%. Charles Schwab’s payout ratio is currently 39.06%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,929 shares of company stock worth $8,196,624. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SCHW. Raymond James decreased their price target on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Wells Fargo & Company increased their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group cut their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a report on Friday, October 4th. JMP Securities upped their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Finally, Citigroup dropped their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.18.

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.