King Luther Capital Management Corp Raises Stock Position in The Charles Schwab Co. (NYSE:SCHW)

King Luther Capital Management Corp boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,064 shares of the financial services provider’s stock after purchasing an additional 572 shares during the quarter. King Luther Capital Management Corp’s holdings in Charles Schwab were worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after buying an additional 225,397 shares during the period. Allen Investment Management LLC lifted its holdings in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after acquiring an additional 251,485 shares during the last quarter. Principal Financial Group Inc. grew its position in Charles Schwab by 0.6% in the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after acquiring an additional 38,201 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Charles Schwab by 1.3% in the second quarter. Envestnet Asset Management Inc. now owns 5,519,303 shares of the financial services provider’s stock valued at $406,717,000 after acquiring an additional 71,143 shares during the last quarter. Finally, Boston Partners raised its position in Charles Schwab by 21.2% during the first quarter. Boston Partners now owns 5,395,138 shares of the financial services provider’s stock valued at $390,856,000 after purchasing an additional 944,048 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America cut their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price objective on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $74.18.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,929 shares of company stock valued at $8,196,624 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Trading Up 0.6 %

NYSE SCHW opened at $81.25 on Friday. The firm has a market capitalization of $144.60 billion, a PE ratio of 31.74, a P/E/G ratio of 1.74 and a beta of 0.96. The stock’s 50 day moving average is $70.55 and its 200 day moving average is $69.85. The Charles Schwab Co. has a twelve month low of $55.59 and a twelve month high of $82.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its 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. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. Charles Schwab’s payout ratio is 39.06%.

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.