TCI Wealth Advisors Inc. lowered its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,045 shares of the financial services provider’s stock after selling 681 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Charles Schwab were worth $337,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SCHW. Vista Private Wealth Partners. LLC purchased a new stake in Charles Schwab during the third quarter valued at about $144,000. Pwmco LLC lifted its holdings in Charles Schwab by 26.3% during the third quarter. Pwmco LLC now owns 288,825 shares of the financial services provider’s stock valued at $12,082,000 after purchasing an additional 60,225 shares during the last quarter. YCG LLC lifted its holdings in Charles Schwab by 5.2% during the third quarter. YCG LLC now owns 906,565 shares of the financial services provider’s stock valued at $37,922,000 after purchasing an additional 44,518 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Charles Schwab by 7.1% during the third quarter. CIBC Private Wealth Group LLC now owns 3,736,278 shares of the financial services provider’s stock valued at $156,288,000 after purchasing an additional 246,251 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in Charles Schwab by 0.3% during the third quarter. Peregrine Capital Management LLC now owns 605,993 shares of the financial services provider’s stock valued at $25,349,000 after purchasing an additional 1,997 shares during the last quarter. Institutional investors own 79.07% of the company’s stock.
Several equities research analysts have commented on SCHW shares. ValuEngine raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. UBS Group upped their price objective on shares of Charles Schwab from $33.00 to $35.00 and gave the company a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Charles Schwab from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $43.50 in a report on Friday, July 12th. Finally, Argus reaffirmed a “buy” rating and set a $52.00 price objective (down from $57.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $44.09.
Shares of Charles Schwab stock traded up $0.35 on Thursday, reaching $39.37. The stock had a trading volume of 183,723 shares, compared to its average volume of 11,715,894. Charles Schwab Co. has a 1 year low of $34.58 and a 1 year high of $49.24. The company has a market cap of $49.31 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.54 and a beta of 1.32. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $39.53 and its two-hundred day moving average is $41.53.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Charles Schwab Co. will post 2.61 EPS for the current fiscal year.
In related news, Chairman Charles R. Schwab sold 105,422 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.08, for a total value of $4,225,313.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen T. Mclin sold 5,093 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $37.56, for a total transaction of $191,293.08. Following the completion of the sale, the director now directly owns 7,297 shares in the company, valued at $274,075.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,677 shares of company stock worth $8,993,241. Insiders own 10.90% of the company’s stock.
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.
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