Cerity Partners LLC Acquires 102,761 Shares of The Charles Schwab Co. (NYSE:SCHW)

Cerity Partners LLC increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,086,616 shares of the financial services provider’s stock after acquiring an additional 102,761 shares during the period. Cerity Partners LLC owned about 0.06% of Charles Schwab worth $70,423,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Washington Trust Advisors Inc. boosted its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Charles Schwab in the 3rd quarter valued at $25,000. Country Trust Bank bought a new position in Charles Schwab in the 2nd quarter valued at $26,000. American Capital Advisory LLC bought a new position in Charles Schwab in the 2nd quarter valued at $27,000. Finally, Fortitude Family Office LLC boosted its position in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Jefferies Financial Group reduced their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Raymond James reduced their price target on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. The Goldman Sachs Group raised their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price target on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Bank of America reduced their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.18.

Charles Schwab Stock Performance

SCHW opened at $81.26 on Friday. The business’s 50-day moving average price is $70.55 and its two-hundred day moving average price is $69.81. The Charles Schwab Co. has a 1 year low of $55.59 and a 1 year high of $82.50. The company has a market capitalization of $144.62 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 1.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,929 shares of company stock valued at $8,196,624 in the last 90 days. 6.60% of the stock is currently owned by company insiders.

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.