Independent Advisor Alliance Has $2.61 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Independent Advisor Alliance grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 22.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,210 shares of the financial services provider’s stock after purchasing an additional 7,301 shares during the period. Independent Advisor Alliance’s holdings in Charles Schwab were worth $2,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Country Trust Bank acquired a new position in shares of Charles Schwab during the 2nd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab during the 3rd quarter worth approximately $25,000. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Fortitude Family Office LLC boosted its position 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 acquiring an additional 192 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s 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 transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at $36,057,774.01. This represents a 2.05 % 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 worth $8,196,624 over the last quarter. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup reduced their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price target 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. The Goldman Sachs Group increased their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Raymond James decreased their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, Morgan Stanley boosted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. 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 data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $74.18.

Charles Schwab Price Performance

SCHW stock opened at $81.77 on Tuesday. The firm has a market cap of $145.52 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.76 and a beta of 0.96. 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 Charles Schwab Co. has a 12-month low of $55.59 and a 12-month high of $82.50. The company’s fifty day simple moving average is $70.91 and its 200 day simple moving average is $69.81.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.22%. Charles Schwab’s payout ratio is 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.