Pitcairn Co. Lowers Holdings in The Charles Schwab Co. (NYSE:SCHW)

Pitcairn Co. trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,648 shares of the financial services provider’s stock after selling 220 shares during the quarter. Pitcairn Co.’s holdings in Charles Schwab were worth $703,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Charles Schwab during the 3rd quarter worth $26,000. Annapolis Financial Services LLC increased its position in Charles Schwab by 135.5% during the 3rd quarter. Annapolis Financial Services LLC now owns 365 shares of the financial services provider’s stock valued at $27,000 after buying an additional 210 shares in the last quarter. American National Bank acquired a new position in Charles Schwab during the 3rd quarter valued at about $28,000. Total Clarity Wealth Management Inc. acquired a new position in Charles Schwab during the 3rd quarter valued at about $29,000. Finally, Destiny Wealth Partners LLC acquired a new position in Charles Schwab during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

SCHW stock opened at $95.53 on Friday. The company has a market cap of $173.03 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 0.93 and a beta of 1.04. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $83.80 and a 200-day simple moving average of $77.22. The Charles Schwab Co. has a 52 week low of $50.76 and a 52 week high of $95.62.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 14th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.51 billion. Charles Schwab had a return on equity of 13.53% and a net margin of 30.08%. The firm’s quarterly revenue was up 86.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. As a group, analysts expect that The Charles Schwab Co. will post 3.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 26th. Stockholders of record on Friday, November 12th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $0.72 annualized dividend and a dividend yield of 0.75%. Charles Schwab’s payout ratio is 27.38%.

In other Charles Schwab news, Chairman Charles R. Schwab sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, October 18th. The shares were sold at an average price of $80.34, for a total value of $1,044,420.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan M. Craig sold 4,976 shares of the firm’s stock in a transaction that occurred on Wednesday, January 12th. The shares were sold at an average price of $95.00, for a total transaction of $472,720.00. The disclosure for this sale can be found here. Insiders sold 1,185,428 shares of company stock worth $97,611,276 in the last three months. 7.50% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on SCHW. UBS Group increased their price objective on Charles Schwab from $83.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, January 4th. Morgan Stanley upped their target price on Charles Schwab from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday. Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating and set a $85.00 target price on the stock. in a research note on Tuesday, December 7th. JMP Securities downgraded Charles Schwab from an “outperform” rating to a “market perform” rating in a research report on Monday, January 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $120.00 to $122.00 in a research report on Thursday. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $93.28.

About Charles Schwab

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

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

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