Carmel Capital Partners LLC Buys 1,832 Shares of The Charles Schwab Co. (NYSE:SCHW)

Carmel Capital Partners LLC grew its position in The Charles Schwab Co. (NYSE:SCHW) by 7.4% during the third quarter, HoldingsChannel.com reports. The firm owned 26,667 shares of the financial services provider’s stock after buying an additional 1,832 shares during the quarter. Charles Schwab accounts for approximately 0.7% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Carmel Capital Partners LLC’s holdings in Charles Schwab were worth $1,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Washington Trust Advisors Inc. grew its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Charles Schwab during the third quarter worth $25,000. Country Trust Bank bought a new position in shares of Charles Schwab in the 2nd quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $27,000. Finally, Fortitude Family Office LLC increased its position in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SCHW shares. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Cowen upped their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Bank of America dropped their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. JMP Securities upped their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.94.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company’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 owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the transaction, the director now directly owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,465 shares of company stock worth $8,050,109 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $73.89 on Friday. The firm has a market capitalization of $131.41 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a twelve month low of $53.49 and a twelve month high of $79.49. The stock’s 50-day simple moving average is $67.24 and its 200 day simple moving average is $69.52.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is presently 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.