Purus Wealth Management LLC Cuts Stake in The Charles Schwab Co. (NYSE:SCHW)

Purus Wealth Management LLC lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,898 shares of the financial services provider’s stock after selling 285 shares during the period. Purus Wealth Management LLC’s holdings in Charles Schwab were worth $289,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. grew its position in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares in the last quarter. Synovus Financial Corp grew its holdings in Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN increased its position in shares of Charles Schwab by 155.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after purchasing an additional 63,463 shares during the last quarter. Equity Investment Corp raised its holdings in shares of Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after purchasing an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. lifted its position in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $76.53 on Monday. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $83.35. The stock’s 50-day moving average price is $77.68 and its 200 day moving average price is $70.63. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $136.20 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SCHW shares. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Citigroup decreased their target price on Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company dropped their price target on shares of Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $81.41.

Insider Buying and Selling

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,823 shares of company stock valued at $2,171,194 over the last three months. 6.60% of the stock is currently 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.