The Charles Schwab Corporation $SCHW Shares Sold by Kelleher Financial Advisors

Kelleher Financial Advisors trimmed its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 65.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,341 shares of the financial services provider’s stock after selling 8,279 shares during the period. Kelleher Financial Advisors’ holdings in Charles Schwab were worth $424,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First Citizens Bank & Trust Co. boosted its position in shares of Charles Schwab by 102.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 33,750 shares of the financial services provider’s stock valued at $3,299,000 after acquiring an additional 17,068 shares during the last quarter. Financial Advisory Partners LLC purchased a new position in shares of Charles Schwab in the first quarter valued at $3,199,000. Illinois Municipal Retirement Fund increased its position in Charles Schwab by 39.3% in the first quarter. Illinois Municipal Retirement Fund now owns 103,657 shares of the financial services provider’s stock worth $9,742,000 after purchasing an additional 29,260 shares during the last quarter. Diversified Management Inc. increased its holdings in shares of Charles Schwab by 404.1% in the 3rd quarter. Diversified Management Inc. now owns 48,078 shares of the financial services provider’s stock worth $4,699,000 after buying an additional 38,541 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Charles Schwab by 14.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 433,286 shares of the financial services provider’s stock worth $42,349,000 after buying an additional 53,929 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, insider Dennis Howard sold 2,198 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total transaction of $241,780.00. Following the transaction, the insider owned 6,980 shares of the company’s stock, valued at approximately $767,800. This represents a 23.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 1,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the transaction, the insider owned 10,738 shares in the company, valued at approximately $1,195,461.54. This represents a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 283,837 shares of company stock worth $31,866,536 over the last quarter. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. UBS Group decreased their target price on shares of Charles Schwab from $113.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a research note on Friday, October 16th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $120.00 price objective on shares of Charles Schwab in a research note on Friday, October 16th. Jefferies Financial Group set a $120.00 target price on Charles Schwab in a report on Friday, October 16th. Finally, Bank of America lifted their price objective on shares of Charles Schwab from $91.00 to $95.00 and gave the stock an “underperform” rating in a research note on Monday, October 5th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $119.91.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $93.42 on Thursday. The firm’s 50 day simple moving average is $99.18 and its 200-day simple moving average is $97.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53. The firm has a market cap of $161.56 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.79 and a beta of 0.77.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.18 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. Charles Schwab’s quarterly revenue was up 16.9% on a year-over-year basis. As a group, equities analysts predict that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. Charles Schwab’s payout ratio is 21.84%.

Charles Schwab Profile

The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.