Clear Harbor Asset Management LLC Grows Holdings in The Charles Schwab Co. (NYSE:SCHW)

Clear Harbor Asset Management LLC boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 207.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,531 shares of the financial services provider’s stock after acquiring an additional 11,820 shares during the period. Clear Harbor Asset Management LLC’s holdings in Charles Schwab were worth $1,136,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SCHW. M&G Plc bought a new stake in shares of Charles Schwab in the 1st quarter worth approximately $11,452,000. Teewinot Capital Advisers L.L.C. grew its stake in shares of Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after acquiring an additional 64,041 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after acquiring an additional 17,925 shares during the last quarter. Iowa State Bank increased its holdings in shares of Charles Schwab by 37.9% during the third 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 in the last quarter. Finally, Dudley & Shanley Inc. purchased a new position in shares of Charles Schwab in the 1st quarter worth about $13,650,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group cut their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Raymond James reduced their target price on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Charles Schwab has an average rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $71.82 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 12-month low of $49.16 and a 12-month high of $79.49. The firm has a market capitalization of $127.64 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97. The firm has a 50 day moving average of $65.73 and a 200 day moving average of $69.50.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. On average, research analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the transaction, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. 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 ninety days, insiders sold 182,001 shares of company stock worth $12,512,592. 6.60% of the stock is owned by company insiders.

Charles Schwab Company 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.