Davis R M Inc. Purchases 1,075 Shares of The Charles Schwab Co. (NYSE:SCHW)

Davis R M Inc. grew its position in The Charles Schwab Co. (NYSE:SCHW) by 7.7% in the third quarter, HoldingsChannel.com reports. The firm owned 15,002 shares of the financial services provider’s stock after acquiring an additional 1,075 shares during the period. Davis R M Inc.’s holdings in Charles Schwab were worth $972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after buying an additional 1,711,312 shares during the period. Fisher Asset Management LLC lifted its position in shares of Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after acquiring an additional 493,264 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Charles Schwab by 2.1% in the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after acquiring an additional 225,397 shares during the period. Allen Investment Management LLC raised its stake in Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after purchasing an additional 251,485 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Charles Schwab by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,893,522 shares of the financial services provider’s stock worth $511,579,000 after purchasing an additional 66,022 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Barclays lifted their price target on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. JMP Securities increased their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a report on Wednesday, October 16th. Jefferies Financial Group reduced their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Cowen increased their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Up 0.6 %

NYSE SCHW opened at $81.77 on Tuesday. The Charles Schwab Co. has a 52 week low of $55.59 and a 52 week high of $82.50. The firm has a market capitalization of $145.52 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.76 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 company has a fifty day moving average of $70.91 and a two-hundred day moving average of $69.81.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate 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 was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. On average, analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Activity at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the sale, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,929 shares of company stock worth $8,196,624 in the last quarter. 6.60% of the stock is 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.