Pittenger & Anderson Inc. Has $4.16 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Pittenger & Anderson Inc. decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,424 shares of the financial services provider’s stock after selling 4,488 shares during the period. Pittenger & Anderson Inc.’s holdings in Charles Schwab were worth $4,157,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Charles Schwab by 26.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Charles Schwab by 186.2% during the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after buying an additional 4,624,302 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Charles Schwab by 134.3% during the third quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after acquiring an additional 3,038,517 shares in the last quarter. Lazard Asset Management LLC lifted its position in Charles Schwab by 31.1% in the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock valued at $397,877,000 after acquiring an additional 1,717,137 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Charles Schwab by 3,123.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock valued at $74,686,000 after purchasing an additional 1,318,203 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock traded down $0.30 during midday trading on Thursday, reaching $74.89. The company had a trading volume of 6,372,471 shares, compared to its average volume of 7,758,828. The firm’s fifty day simple moving average is $69.27 and its 200-day simple moving average is $63.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $133.01 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a 12-month low of $45.65 and a 12-month high of $75.55.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The sale was disclosed in a filing with the SEC, which is available through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the sale, the chairman now owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. Insiders have sold 389,167 shares of company stock valued at $26,987,035 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SCHW shares. The Goldman Sachs Group restated a “neutral” rating and set a $71.00 price target (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 16th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research report on Tuesday, April 16th. Bank of America increased their target price on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. Finally, Barclays lifted their price target on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.47.

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.