MAI Capital Management Sells 16,047 Shares of The Charles Schwab Co. (NYSE:SCHW)

MAI Capital Management lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 10.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,024 shares of the financial services provider’s stock after selling 16,047 shares during the quarter. MAI Capital Management’s holdings in Charles Schwab were worth $9,140,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC raised its stake in shares of Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares during the period. Washington Trust Advisors Inc. raised its position in 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 buying an additional 149 shares during the last quarter. Arcataur Capital Management LLC lifted its stake in Charles Schwab by 2.3% in the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 150 shares in the last quarter. Tandem Capital Management Corp ADV boosted its position in Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after acquiring an additional 150 shares during the last quarter. Finally, Ascent Wealth Partners LLC grew its stake in shares of Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 164 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

NYSE:SCHW opened at $81.40 on Tuesday. The stock has a 50 day simple moving average of $69.10 and a 200 day simple moving average of $69.64. The stock has a market cap of $144.86 billion, a P/E ratio of 31.80, a PEG ratio of 1.76 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $55.42 and a 1-year high of $82.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

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 return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab’s payout ratio is presently 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 dated 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 in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’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 transaction of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,645 shares of company stock valued at $7,440,627. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SCHW. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Citigroup lowered their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Bank of America lowered their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Finally, Barclays increased their price objective on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two investment 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. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $74.18.

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.