QCI Asset Management Inc. NY boosted its holdings in Charles Schwab Co. (NYSE:SCHW) by 0.7% in the third quarter, HoldingsChannel reports. The firm owned 332,059 shares of the financial services provider’s stock after purchasing an additional 2,387 shares during the quarter. QCI Asset Management Inc. NY’s holdings in Charles Schwab were worth $16,321,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA bought a new position in Charles Schwab in the third quarter valued at $111,000. Acropolis Investment Management LLC bought a new position in Charles Schwab in the second quarter valued at $115,000. Point72 Hong Kong Ltd bought a new position in Charles Schwab in the second quarter valued at $134,000. Zions Bancorporation bought a new position in Charles Schwab in the third quarter valued at $136,000. Finally, Kaizen Advisory LLC grew its position in Charles Schwab by 157.6% in the second quarter. Kaizen Advisory LLC now owns 2,980 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 1,823 shares in the last quarter. 80.44% of the stock is owned by institutional investors and hedge funds.

Shares of SCHW opened at $47.64 on Friday. Charles Schwab Co. has a one year low of $42.01 and a one year high of $60.22. The stock has a market capitalization of $65.63 billion, a PE ratio of 29.05, a PEG ratio of 1.21 and a beta of 1.48. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, October 15th. The financial services provider reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. Charles Schwab had a net margin of 32.65% and a return on equity of 19.46%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, research analysts forecast that Charles Schwab Co. will post 2.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, November 8th. Charles Schwab’s dividend payout ratio is presently 31.71%.

Charles Schwab announced that its board has initiated a share repurchase program on Thursday, October 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 1.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

SCHW has been the subject of a number of analyst reports. Wells Fargo & Co raised their target price on shares of Charles Schwab from $54.00 to $56.00 and gave the company a “$54.22” rating in a research report on Wednesday, July 18th. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price objective on shares of Charles Schwab in a research report on Monday, July 16th. JPMorgan Chase & Co. set a $59.00 price objective on shares of Charles Schwab and gave the company a “buy” rating in a research report on Monday, July 16th. Morgan Stanley set a $70.00 price objective on shares of Charles Schwab and gave the company a “buy” rating in a research report on Tuesday, September 18th. Finally, Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.73.

In other news, insider Marie A. Chandoha sold 8,424 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $48.01, for a total transaction of $404,436.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marie A. Chandoha sold 12,400 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $47.18, for a total transaction of $585,032.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,171 shares of company stock valued at $1,921,687. 11.50% of the stock is currently owned by corporate insiders.

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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.

Further Reading: S&P 500 Index

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles Schwab Co. (NYSE:SCHW).

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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