Highland Capital Management LLC Cuts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Highland Capital Management LLC reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 71.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,519 shares of the financial services provider’s stock after selling 72,005 shares during the period. Highland Capital Management LLC’s holdings in Charles Schwab were worth $1,848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nelson Capital Management LLC raised its holdings in shares of Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after purchasing an additional 141 shares during the last quarter. Abbrea Capital LLC boosted its stake in shares of Charles Schwab by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after buying an additional 142 shares during the last quarter. Alliance Wealth Advisors LLC grew its holdings in shares of Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares during the period. Arcataur Capital Management LLC increased its position in Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 150 shares during the last quarter. Finally, Ascent Wealth Partners LLC lifted its holdings in Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after acquiring an additional 164 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Down 1.1 %

SCHW opened at $71.82 on Friday. The firm has a 50-day simple moving average of $65.73 and a two-hundred day simple moving average of $69.50. The Charles Schwab Co. has a 52 week low of $49.16 and a 52 week high of $79.49. The company has a market capitalization of $127.64 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts forecast that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio is 41.84%.

Analyst Ratings Changes

SCHW has been the subject of several research reports. Barclays upped their price target on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America reduced their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. TD Cowen reiterated a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.94.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 551,329 shares in the company, valued at $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,001 shares of company stock valued at $12,512,592. Insiders own 6.60% of the company’s stock.

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.