Cim Investment Mangement Inc. lessened its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 78.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,019 shares of the financial services provider’s stock after selling 40,005 shares during the quarter. Cim Investment Mangement Inc.’s holdings in Charles Schwab were worth $542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vantage Investment Advisors LLC lifted its position in Charles Schwab by 5.1% in the third quarter. Vantage Investment Advisors LLC now owns 132,329 shares of the financial services provider’s stock valued at $6,504,000 after buying an additional 6,414 shares during the last quarter. Fosun International Ltd acquired a new position in Charles Schwab in the third quarter valued at about $960,000. Bank of New York Mellon Corp lifted its position in Charles Schwab by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 12,675,853 shares of the financial services provider’s stock valued at $623,016,000 after buying an additional 108,436 shares during the last quarter. Janus Henderson Group PLC lifted its position in Charles Schwab by 2.7% in the third quarter. Janus Henderson Group PLC now owns 8,193,774 shares of the financial services provider’s stock valued at $402,728,000 after buying an additional 218,464 shares during the last quarter. Finally, HCR Wealth Advisors lifted its position in Charles Schwab by 2.9% in the third quarter. HCR Wealth Advisors now owns 38,224 shares of the financial services provider’s stock valued at $1,730,000 after buying an additional 1,081 shares during the last quarter. 80.32% of the stock is currently owned by institutional investors.

Shares of NYSE:SCHW opened at $45.97 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $63.42 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. Charles Schwab Co. has a 1 year low of $42.01 and a 1 year high of $60.22.

Charles Schwab (NYSE:SCHW) last released its earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.65. Charles Schwab had a net margin of 32.65% and a return on equity of 19.02%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. Analysts anticipate that Charles Schwab Co. will post 2.44 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has authorized a stock buyback 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 repurchase up to 1.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 8th. Charles Schwab’s payout ratio is currently 31.71%.

In related news, Chairman Charles R. Schwab sold 383,000 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $46.97, for a total transaction of $17,989,510.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan M. Craig sold 2,629 shares of the stock in a transaction on Monday, October 15th. The stock was sold at an average price of $48.84, for a total value of $128,400.36. The disclosure for this sale can be found here. Insiders sold 406,453 shares of company stock valued at $19,107,379 over the last three months. Corporate insiders own 11.50% of the company’s stock.

SCHW has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of Charles Schwab from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, October 9th. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, October 3rd. Deutsche Bank raised shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their target price for the company from $52.00 to $54.00 in a research report on Tuesday, October 30th. UBS Group lowered shares of Charles Schwab from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Raymond James upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $57.33.

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Charles Schwab Company 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.

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

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