Shell Asset Management Co. Has $6.03 Million Stake in The Charles Schwab Corporation (SCHW)

Shell Asset Management Co. lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 29.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 205,154 shares of the financial services provider’s stock after selling 86,569 shares during the quarter. Shell Asset Management Co.’s holdings in The Charles Schwab Corporation were worth $6,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. WealthTrust Arizona LLC boosted its holdings in The Charles Schwab Corporation by 1.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 29 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in The Charles Schwab Corporation during the 2nd quarter valued at $145,000. Fiduciary Trust Co. purchased a new position in The Charles Schwab Corporation during the 2nd quarter valued at $163,000. Founders Capital Management boosted its holdings in The Charles Schwab Corporation by 7.7% during the 2nd quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 300 shares during the period. Finally, Paradigm Asset Management Co. LLC boosted its holdings in The Charles Schwab Corporation by 4.7% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,450 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 200 shares during the period. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

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The Charles Schwab Corporation (NYSE:SCHW) traded up 3.26% on Friday, hitting $44.68. The stock had a trading volume of 9,190,582 shares. The company has a market cap of $59.83 billion, a P/E ratio of 28.46 and a beta of 1.68. The firm’s 50-day moving average is $42.47 and its 200-day moving average is $41.18. The Charles Schwab Corporation has a 52-week low of $30.66 and a 52-week high of $46.21.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. The Charles Schwab Corporation had a return on equity of 16.07% and a net margin of 27.30%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share. Equities research analysts anticipate that The Charles Schwab Corporation will post $1.62 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.08 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.72%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 20.51%.

A number of research firms recently issued reports on SCHW. BidaskClub cut The Charles Schwab Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 17th. Barclays PLC boosted their price objective on The Charles Schwab Corporation from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Morgan Stanley boosted their price objective on The Charles Schwab Corporation from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, October 5th. Keefe, Bruyette & Woods restated a “buy” rating and set a $47.00 price objective on shares of The Charles Schwab Corporation in a report on Friday, September 15th. Finally, Jefferies Group LLC restated a “buy” rating and set a $49.00 price objective on shares of The Charles Schwab Corporation in a report on Friday, September 15th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $46.80.

In related news, EVP Terri R. Kallsen sold 4,267 shares of The Charles Schwab Corporation stock in a transaction on Friday, October 6th. The stock was sold at an average price of $46.02, for a total value of $196,367.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marie A. Chandoha sold 19,074 shares of The Charles Schwab Corporation stock in a transaction on Friday, October 6th. The shares were sold at an average price of $45.94, for a total value of $876,259.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 830,733 shares of company stock valued at $35,999,593. 12.00% of the stock is currently owned by company insiders.

The Charles Schwab Corporation Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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

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