Vigilant Capital Management LLC lowered its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 50.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,500 shares of the financial services provider’s stock after selling 1,500 shares during the period. Vigilant Capital Management LLC’s holdings in The Charles Schwab were worth $54,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. First Trust Advisors LP acquired a new position in The Charles Schwab in the 1st quarter worth about $1,805,000. Two Sigma Advisers LP acquired a new position in The Charles Schwab in the 1st quarter worth about $19,241,000. Maverick Capital Ltd. acquired a new position in The Charles Schwab in the 1st quarter worth about $2,101,000. United Capital Financial Advisers LLC increased its holdings in The Charles Schwab by 617.6% in the 1st quarter. United Capital Financial Advisers LLC now owns 116,523 shares of the financial services provider’s stock worth $3,918,000 after purchasing an additional 100,286 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of The Charles Schwab by 114.5% in the first quarter. Schroder Investment Management Group now owns 36,763 shares of the financial services provider’s stock valued at $1,326,000 after buying an additional 19,624 shares during the period. 85.31% of the stock is owned by institutional investors.
In other news, Chairman Charles R. Schwab sold 65,056 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $33.19, for a total value of $2,159,208.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles A. Ruffel bought 2,854 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The stock was bought at an average price of $34.91 per share, for a total transaction of $99,633.14. Following the acquisition, the director now directly owns 7,751 shares of the company’s stock, valued at $270,587.41. The disclosure for this purchase can be found here. 10.80% of the stock is currently owned by corporate insiders.
The Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.43 billion. The Charles Schwab had a return on equity of 15.86% and a net margin of 31.48%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities analysts forecast that The Charles Schwab Co. will post 2.13 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on SCHW. Argus increased their price target on The Charles Schwab from $42.00 to $50.00 in a research note on Friday. Bank of America increased their price target on The Charles Schwab from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley increased their price target on The Charles Schwab from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Credit Suisse Group began coverage on The Charles Schwab in a research note on Wednesday. They issued a “neutral” rating and a $43.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on The Charles Schwab from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, July 17th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.00.
The Charles Schwab Company 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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