The Charles Schwab Corporation $SCHW Shares Sold by Sendero Wealth Management LLC

Sendero Wealth Management LLC lessened its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 19.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,300 shares of the financial services provider’s stock after selling 17,020 shares during the quarter. Charles Schwab makes up about 0.8% of Sendero Wealth Management LLC’s holdings, making the stock its 24th largest position. Sendero Wealth Management LLC’s holdings in Charles Schwab were worth $6,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SCHW. Cooper Financial Group increased its holdings in Charles Schwab by 13.8% during the 3rd quarter. Cooper Financial Group now owns 16,300 shares of the financial services provider’s stock valued at $1,556,000 after acquiring an additional 1,974 shares in the last quarter. Montecito Bank & Trust purchased a new stake in shares of Charles Schwab in the third quarter valued at about $1,546,000. Orser Capital Management LLC acquired a new stake in shares of Charles Schwab in the third quarter valued at approximately $625,000. Acropolis Investment Management LLC purchased a new position in shares of Charles Schwab during the 3rd quarter worth approximately $407,000. Finally, Wynn Capital LLC increased its stake in shares of Charles Schwab by 1.3% during the 3rd quarter. Wynn Capital LLC now owns 28,242 shares of the financial services provider’s stock worth $2,696,000 after purchasing an additional 375 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Barclays dropped their price objective on Charles Schwab from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Bank of America raised their price target on shares of Charles Schwab from $88.00 to $91.00 and gave the stock an “underperform” rating in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.37.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Up 0.6%

SCHW opened at $96.55 on Thursday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The business has a 50-day moving average of $93.98 and a two-hundred day moving average of $93.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $171.56 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the firm posted $0.71 EPS. The company’s revenue was up 26.6% on a year-over-year basis. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

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.