The Charles Schwab Co. (NYSE:SCHW) is Ruane Cunniff & Goldfarb L.P.’s 5th Largest Position

Ruane Cunniff & Goldfarb L.P. lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 4.3% in the third quarter, Holdings Channel reports. The fund owned 7,450,286 shares of the financial services provider’s stock after selling 334,771 shares during the period. Charles Schwab makes up approximately 7.6% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 5th biggest holding. Ruane Cunniff & Goldfarb L.P.’s holdings in Charles Schwab were worth $482,853,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SCHW. Swedbank AB purchased a new position in Charles Schwab in the first quarter worth approximately $40,738,000. Cetera Investment Advisers lifted its stake in Charles Schwab by 255.8% in the first quarter. Cetera Investment Advisers now owns 392,899 shares of the financial services provider’s stock worth $28,422,000 after acquiring an additional 282,474 shares during the last quarter. Cetera Advisors LLC raised its holdings in Charles Schwab by 126.0% during the first quarter. Cetera Advisors LLC now owns 65,976 shares of the financial services provider’s stock worth $4,773,000 after purchasing an additional 36,782 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in Charles Schwab by 7.0% during the first quarter. Cetera Advisor Networks LLC now owns 247,996 shares of the financial services provider’s stock worth $17,940,000 after purchasing an additional 16,332 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Charles Schwab by 2.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 258,143 shares of the financial services provider’s stock worth $18,674,000 after purchasing an additional 6,457 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,968 shares of company stock worth $9,419,271. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $82.60 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $147.00 billion, a P/E ratio of 32.27, a P/E/G ratio of 1.77 and a beta of 0.96. The company’s fifty day moving average is $71.66 and its two-hundred day moving average is $69.94. The Charles Schwab Co. has a 1 year low of $55.59 and a 1 year high of $82.65.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company 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%. Charles Schwab’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s payout ratio is currently 39.06%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Citigroup cut their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Wells Fargo & Company raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.