Covey Capital Advisors LLC Has $1.51 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Covey Capital Advisors LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,271 shares of the financial services provider’s stock after selling 607 shares during the quarter. Charles Schwab makes up about 1.7% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Covey Capital Advisors LLC’s holdings in Charles Schwab were worth $1,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCHW. Darsana Capital Partners LP boosted its holdings in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after buying an additional 2,000,000 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd boosted its holdings in shares of Charles Schwab by 2,617.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after acquiring an additional 1,644,931 shares during the period. International Assets Investment Management LLC grew its position in shares of Charles Schwab by 7,559.9% in the third quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider’s stock valued at $57,667,000 after purchasing an additional 878,163 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Charles Schwab by 112.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,402,400 shares of the financial services provider’s stock worth $90,890,000 after purchasing an additional 740,800 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $82.60 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 52 week low of $55.59 and a 52 week high of $82.65. The stock has a market capitalization of $147.00 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The stock has a fifty day moving average of $72.02 and a 200-day moving average of $70.03.

Charles Schwab (NYSE:SCHW) last issued its 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. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,968 shares of company stock worth $9,419,271 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SCHW shares. Cowen boosted their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America lowered their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Barclays boosted their price objective on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $74.18.

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.