Dixon Hubard Feinour & Brown Inc. VA Sells 1,100 Shares of Charles Schwab Co. (SCHW)

Dixon Hubard Feinour & Brown Inc. VA cut its holdings in Charles Schwab Co. (NYSE:SCHW) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 150,875 shares of the financial services provider’s stock after selling 1,100 shares during the period. Charles Schwab comprises 2.1% of Dixon Hubard Feinour & Brown Inc. VA’s portfolio, making the stock its 15th biggest holding. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Charles Schwab were worth $7,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of Charles Schwab by 130.5% during the 1st quarter. Millennium Management LLC now owns 53,972 shares of the financial services provider’s stock valued at $2,818,000 after purchasing an additional 230,970 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Charles Schwab by 3.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 212,767 shares of the financial services provider’s stock valued at $10,872,000 after purchasing an additional 7,685 shares during the period. Manning & Napier Group LLC raised its position in shares of Charles Schwab by 44.7% during the 2nd quarter. Manning & Napier Group LLC now owns 3,101,140 shares of the financial services provider’s stock valued at $158,468,000 after purchasing an additional 957,925 shares during the period. Atria Investments LLC raised its position in shares of Charles Schwab by 9.1% during the 2nd quarter. Atria Investments LLC now owns 14,372 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,195 shares during the period. Finally, Bank of Stockton raised its position in shares of Charles Schwab by 20.9% during the 2nd quarter. Bank of Stockton now owns 11,328 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 1,960 shares during the period. Institutional investors and hedge funds own 80.44% of the company’s stock.

In other Charles Schwab news, Director Christopher V. Dodds sold 15,718 shares of Charles Schwab stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $51.14, for a total value of $803,818.52. Following the completion of the transaction, the director now directly owns 7,592 shares of the company’s stock, valued at approximately $388,254.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marie A. Chandoha sold 12,400 shares of Charles Schwab stock in a transaction on Monday, November 5th. The stock was sold at an average price of $47.18, for a total transaction of $585,032.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,171 shares of company stock worth $1,921,687. 11.50% of the stock is currently owned by insiders.

Several brokerages have recently commented on SCHW. Raymond James upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $54.00 price objective on the stock in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Deutsche Bank upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their price objective for the company from $52.00 to $54.00 in a research report on Tuesday, October 30th. Credit Suisse Group decreased their price objective on shares of Charles Schwab from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Barclays decreased their price objective on shares of Charles Schwab from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Monday, October 22nd. Finally, Morgan Stanley raised their price objective on shares of Charles Schwab from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Charles Schwab presently has an average rating of “Hold” and an average price target of $57.73.

Shares of NYSE SCHW opened at $47.64 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $65.63 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 1.21 and a beta of 1.48. Charles Schwab Co. has a 52-week low of $42.01 and a 52-week high of $60.22.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. Charles Schwab had a net margin of 32.65% and a return on equity of 19.46%. Charles Schwab’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. On average, equities analysts forecast that Charles Schwab Co. will post 2.45 earnings per share for the current year.

Charles Schwab declared that its Board of Directors has approved a share repurchase program on Thursday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.09%. Charles Schwab’s dividend payout ratio is currently 31.71%.

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Charles Schwab Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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