The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,171 shares of the financial services provider’s stock after selling 31,088 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Charles Schwab were worth $10,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Alliance Wealth Advisors LLC raised its stake in Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Arcataur Capital Management LLC lifted its holdings in shares of Charles Schwab by 2.3% during the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 150 shares during the period. Tandem Capital Management Corp ADV boosted its position in Charles Schwab by 0.3% in the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after buying an additional 150 shares during the last quarter. Finally, Ascent Wealth Partners LLC increased its holdings in Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after buying an additional 164 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SCHW. Wells Fargo & Company increased their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Citigroup lowered their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Barclays lifted their price target 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. Finally, Cowen upped their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Two equities research 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.18.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $80.80 on Friday. The stock has a 50 day moving average of $70.17 and a two-hundred day moving average of $69.82. The Charles Schwab Co. has a twelve month low of $55.42 and a twelve month high of $82.50. The stock has a market cap of $143.80 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.74 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

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 business 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 16.92% and a net margin of 27.47%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, research analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insider Buying and Selling

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the company’s 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 sale, the director now owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,929 shares of company stock valued at $8,196,624. Corporate insiders own 6.60% of the company’s stock.

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.