Main Street Research LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 58.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 368,988 shares of the financial services provider’s stock after buying an additional 135,715 shares during the quarter. Main Street Research LLC’s holdings in Charles Schwab were worth $20,257,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Quilter Plc purchased a new stake in Charles Schwab in the second quarter worth about $424,700,000. Key Financial Inc lifted its stake in shares of Charles Schwab by 144.3% during the 2nd quarter. Key Financial Inc now owns 447 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 264 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in Charles Schwab during the second quarter valued at about $28,000. Worth Asset Management LLC purchased a new position in Charles Schwab in the first quarter valued at about $32,000. Finally, Global Trust Asset Management LLC raised its holdings in Charles Schwab by 633.8% in the second quarter. Global Trust Asset Management LLC now owns 521 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 450 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 12,208 shares of Charles Schwab stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $61.28, for a total transaction of $748,106.24. Following the transaction, the director now directly owns 1,722,400 shares in the company, valued at approximately $105,548,672. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Charles Schwab news, General Counsel Peter J. Morgan III sold 7,162 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $60.72, for a total value of $434,876.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 12,208 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $61.28, for a total transaction of $748,106.24. Following the sale, the director now owns 1,722,400 shares of the company’s stock, valued at $105,548,672. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,484 shares of company stock valued at $1,600,199. 6.60% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on Charles Schwab from $92.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Charles Schwab from $70.00 to $69.00 in a research note on Wednesday, October 11th. Citigroup downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $70.00 in a research report on Wednesday, January 10th. Morgan Stanley lowered their price target on Charles Schwab from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Finally, UBS Group increased their price target on Charles Schwab from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average price target of $69.69.
Charles Schwab Stock Performance
Shares of NYSE:SCHW traded down $0.13 during trading on Wednesday, hitting $63.79. 2,580,374 shares of the company traded hands, compared to its average volume of 9,540,594. The stock has a market capitalization of $113.02 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 3.13 and a beta of 1.01. The Charles Schwab Co. has a one year low of $45.00 and a one year high of $81.96. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.87. The business’s fifty day moving average is $64.02 and its 200-day moving average is $60.01.
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. Charles Schwab had a net margin of 26.90% and a return on equity of 22.07%. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s quarterly revenue was down 18.9% on a year-over-year basis. As a group, equities analysts predict that The Charles Schwab Co. will post 3.58 earnings per share for the current fiscal year.
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. The company operates in two segments, Investor Services and Advisor Services.