Coastwise Capital Group LLC Boosts Stake in The Charles Schwab Co. (NYSE:SCHW)

Coastwise Capital Group LLC lifted its stake in The Charles Schwab Co. (NYSE:SCHW) by 17.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,050 shares of the financial services provider’s stock after purchasing an additional 907 shares during the quarter. Coastwise Capital Group LLC’s holdings in Charles Schwab were worth $392,000 as of its most recent SEC filing.

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

Charles Schwab Stock Up 0.2 %

Shares of SCHW opened at $82.76 on Monday. The stock has a 50 day moving average price of $72.37 and a 200 day moving average price of $69.97. 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 $147.28 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 1.79 and a beta of 0.96. The Charles Schwab Co. has a one year low of $59.61 and a one year high of $83.35.

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. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the company earned $0.77 EPS. Charles Schwab’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on SCHW. Morgan Stanley upped their price target 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. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Jefferies Financial Group lowered their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. JMP Securities lifted their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. One equities research analyst has 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, the stock currently has an average rating of “Hold” and a consensus target price of $75.56.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,968 shares of company stock valued at $9,419,271 in the last three months. 6.60% of the stock is currently owned by insiders.

Charles Schwab Profile

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.