The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,029 shares of the financial services provider’s stock after selling 2,518 shares during the quarter. Raymond James Trust N.A.’s holdings in Charles Schwab were worth $1,622,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Patten & Patten Inc. TN grew its position in shares of Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after purchasing an additional 63,463 shares during the period. Equity Investment Corp boosted its stake in Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after buying an additional 140,643 shares during the last quarter. Teewinot Capital Advisers L.L.C. grew its holdings in Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after buying an additional 64,041 shares during the period. Iowa State Bank increased its stake in shares of Charles Schwab by 37.9% during the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after acquiring an additional 7,829 shares during the last quarter. Finally, Radnor Capital Management LLC purchased a new position in shares of Charles Schwab during the 3rd quarter worth about $6,081,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on SCHW shares. Jefferies Financial Group dropped their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup reduced their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Piper Sandler upped their price target on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.18.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This trade represents a 5.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,929 shares of company stock valued at $8,196,624 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.6 %

Shares of Charles Schwab stock opened at $81.26 on Friday. The Charles Schwab Co. has a 1-year low of $55.59 and a 1-year high of $82.50. The company has a market capitalization of $144.62 billion, a PE ratio of 31.74, a P/E/G ratio of 1.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50-day moving average of $70.55 and a 200-day moving average of $69.81.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.77 EPS. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

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.