The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Aviance Capital Partners LLC

Aviance Capital Partners LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,477 shares of the financial services provider’s stock after buying an additional 1,026 shares during the period. Aviance Capital Partners LLC’s holdings in Charles Schwab were worth $5,799,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SCHW. Country Trust Bank purchased a new stake in shares of Charles Schwab in the second quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab in the 3rd quarter worth approximately $25,000. Washington Trust Advisors Inc. raised its holdings in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $81.40 on Tuesday. The company has a market cap of $144.86 billion, a P/E ratio of 31.80, a PEG ratio of 1.76 and a beta of 0.96. The Charles Schwab Co. has a one year low of $55.42 and a one year high of $82.50. The business’s 50-day simple moving average is $69.10 and its 200 day simple moving average is $69.64. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,645 shares of company stock worth $7,440,627. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SCHW. Barclays raised their price objective on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley upped their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Piper Sandler lifted their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $74.18.

About Charles Schwab

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.