TCTC Holdings LLC Trims Stock Position in The Charles Schwab Co. (NYSE:SCHW)

TCTC Holdings LLC decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,568 shares of the financial services provider’s stock after selling 2,673 shares during the quarter. TCTC Holdings LLC’s holdings in Charles Schwab were worth $11,379,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. M&G Plc bought a new position in shares of Charles Schwab in the first quarter worth about $11,452,000. Teewinot Capital Advisers L.L.C. increased its holdings in Charles Schwab by 9.0% in 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 acquiring an additional 64,041 shares in the last quarter. Iowa State Bank raised its stake in Charles Schwab by 37.9% during the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after acquiring an additional 7,829 shares during the period. Radnor Capital Management LLC purchased a new position in Charles Schwab during the third quarter valued at approximately $6,081,000. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Charles Schwab by 8.3% in the first quarter. Orion Portfolio Solutions LLC now owns 134,897 shares of the financial services provider’s stock worth $9,758,000 after purchasing an additional 10,393 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SCHW shares. Raymond James decreased their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft decreased their price target on Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. TD Cowen reaffirmed a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Bank of America decreased their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group dropped their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.94.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,465 shares of company stock worth $8,050,109 over the last three months. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $73.90 on Friday. The firm has a fifty day simple moving average of $67.24 and a two-hundred day simple moving average of $69.52. The Charles Schwab Co. has a 52 week low of $53.49 and a 52 week high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $131.43 billion, a P/E ratio of 28.86, a PEG ratio of 1.74 and a beta of 0.96.

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

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.35%. Charles Schwab’s payout ratio is presently 39.06%.

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.