J.P. Morgan Private Wealth Advisors LLC Purchases Shares of 358,502 The Charles Schwab Co. (NYSE:SCHW)

J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHWFree Report) during the third quarter, Holdings Channel.com reports. The firm bought 358,502 shares of the financial services provider’s stock, valued at approximately $19,682,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Independent Advisor Alliance lifted its position in Charles Schwab by 334.1% in the 2nd quarter. Independent Advisor Alliance now owns 55,268 shares of the financial services provider’s stock valued at $3,133,000 after acquiring an additional 42,535 shares in the last quarter. Beacon Pointe Advisors LLC lifted its position in Charles Schwab by 54.2% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 135,940 shares of the financial services provider’s stock valued at $7,705,000 after acquiring an additional 47,792 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Charles Schwab by 21.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,839 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 677 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Charles Schwab by 43.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock valued at $30,287,000 after acquiring an additional 166,316 shares in the last quarter. Finally, Act Two Investors LLC bought a new position in Charles Schwab in the 2nd quarter valued at approximately $13,488,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Charles Schwab Trading Up 1.1 %

Shares of SCHW stock opened at $62.94 on Monday. The firm has a market capitalization of $111.51 billion, a PE ratio of 24.78, a PEG ratio of 3.23 and a beta of 0.99. The stock has a fifty day simple moving average of $65.19 and a two-hundred day simple moving average of $60.18. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.66 and a current ratio of 0.66. The Charles Schwab Co. has a 52-week low of $45.00 and a 52-week high of $81.96.

Charles Schwab (NYSE:SCHWGet Free Report) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a return on equity of 22.07% and a net margin of 26.90%. The business’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. On average, analysts predict that The Charles Schwab Co. will post 3.42 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, February 8th. Charles Schwab’s payout ratio is 39.37%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCHW. Jefferies Financial Group lowered their price target on Charles Schwab from $66.00 to $62.00 in a report on Tuesday, October 10th. Barclays lowered their price target on Charles Schwab from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Thursday, January 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $71.00 price target (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. TD Cowen began coverage on Charles Schwab in a report on Thursday, January 4th. They set a “market perform” rating and a $77.00 price target on the stock. Finally, Redburn Atlantic began coverage on Charles Schwab in a report on Friday, December 1st. They issued a “sell” rating and a $52.00 target price on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.69.

View Our Latest Stock Report on Charles Schwab

Insider Activity at Charles Schwab

In related news, CFO Peter B. Crawford sold 4,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $60.56, for a total value of $242,240.00. Following the completion of the transaction, the chief financial officer now owns 41,611 shares of the company’s stock, valued at approximately $2,519,962.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Peter B. Crawford sold 4,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $60.56, for a total value of $242,240.00. Following the completion of the transaction, the chief financial officer now owns 41,611 shares of the company’s stock, valued at approximately $2,519,962.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 16,390 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the transaction, the chairman now directly owns 61,331,688 shares of the company’s stock, valued at approximately $3,921,548,130.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,760 shares of company stock valued at $2,731,159. Insiders own 6.60% of the company’s stock.

About Charles Schwab

(Free Report)

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. The company operates in two segments, Investor Services and Advisor Services.

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

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