The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 74.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,155 shares of the financial services provider’s stock after selling 29,048 shares during the period. Martingale Asset Management L P’s holdings in Charles Schwab were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patten & Patten Inc. TN raised 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 third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after buying an additional 140,643 shares during the last quarter. Teewinot Capital Advisers L.L.C. lifted its stake in shares of Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after buying an additional 64,041 shares during the period. Iowa State Bank grew its holdings in shares of Charles Schwab by 37.9% during the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after buying an additional 7,829 shares during the last quarter. Finally, Radnor Capital Management LLC acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $6,081,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction 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 owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,968 shares of company stock valued at $9,419,271 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW opened at $81.40 on Tuesday. The stock has a 50 day moving average of $72.37 and a two-hundred day moving average of $69.97. The Charles Schwab Co. has a 12 month low of $59.67 and a 12 month high of $83.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $144.86 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.

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

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.23%. Charles Schwab’s payout ratio is 39.06%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SCHW. Bank of America lowered their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Cowen upped their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Barclays raised their price target on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Citigroup reduced their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average target price of $75.56.

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.