Edgestream Partners L.P. Acquires New Position in The Charles Schwab Co. (NYSE:SCHW)

Edgestream Partners L.P. bought a new position in The Charles Schwab Co. (NYSE:SCHW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 119,269 shares of the financial services provider’s stock, valued at approximately $7,730,000.

Other institutional investors also recently modified their holdings of the company. Patten & Patten Inc. TN increased its position in 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 worth $6,751,000 after purchasing an additional 63,463 shares during the last quarter. Equity Investment Corp increased its holdings in 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. raised its position in 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 valued at $57,122,000 after acquiring an additional 64,041 shares in the last quarter. Iowa State Bank lifted its stake in Charles Schwab by 37.9% in the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after acquiring an additional 7,829 shares during the last quarter. Finally, Radnor Capital Management LLC bought a new stake in Charles Schwab in the third quarter worth approximately $6,081,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now directly owns 59,092 shares in the company, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,968 shares of company stock worth $9,419,271. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.2 %

SCHW stock opened at $82.79 on Friday. The company has a market cap of $147.34 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 1.79 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 twelve month low of $59.61 and a twelve month high of $83.35. The business’s 50-day simple moving average is $72.37 and its 200 day simple moving average is $70.08.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, research analysts anticipate 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Citigroup reduced their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Jefferies Financial Group decreased 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. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two 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 stock. According to data from MarketBeat, the stock 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.