Verity Asset Management Inc. Buys 2,133 Shares of The Charles Schwab Co. (NYSE:SCHW)

Verity Asset Management Inc. increased its position in The Charles Schwab Co. (NYSE:SCHW) by 51.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,291 shares of the financial services provider’s stock after purchasing an additional 2,133 shares during the quarter. Verity Asset Management Inc.’s holdings in Charles Schwab were worth $408,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Country Trust Bank purchased a new position in Charles Schwab during the second quarter valued at approximately $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab in the 2nd quarter worth $27,000. Fortitude Family Office LLC lifted its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. CGC Financial Services LLC bought a new stake in Charles Schwab during the second quarter valued at about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Charles Schwab in the second quarter worth about $29,000. 84.38% 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 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,465 shares of company stock valued at $8,050,109 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCHW. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Barclays upped their target price on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, JMP Securities increased their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Stock Down 3.5 %

SCHW stock opened at $73.10 on Friday. The firm’s fifty day moving average is $66.90 and its 200 day moving average is $69.49. The firm has a market cap of $130.00 billion, a PE ratio of 28.55, a P/E/G ratio of 1.63 and a beta of 0.96. The Charles Schwab Co. has a one year low of $53.49 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during 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 quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, research analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio is presently 39.06%.

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.