Papp L Roy & Associates Sells 24,587 Shares of Charles Schwab Co. (NYSE:SCHW)

Papp L Roy & Associates decreased its position in Charles Schwab Co. (NYSE:SCHW) by 35.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,312 shares of the financial services provider’s stock after selling 24,587 shares during the quarter. Papp L Roy & Associates’ holdings in Charles Schwab were worth $1,854,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SCHW. Venturi Wealth Management LLC purchased a new stake in shares of Charles Schwab during the third quarter worth about $26,000. FNY Investment Advisers LLC grew its holdings in Charles Schwab by 133.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock valued at $28,000 after buying an additional 400 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Charles Schwab by 303.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 802 shares of the financial services provider’s stock valued at $33,000 after buying an additional 603 shares in the last quarter. Gradient Investments LLC grew its holdings in Charles Schwab by 526.2% during the 3rd quarter. Gradient Investments LLC now owns 814 shares of the financial services provider’s stock valued at $34,000 after buying an additional 684 shares in the last quarter. Finally, Glassman Wealth Services grew its holdings in Charles Schwab by 51.0% during the 2nd quarter. Glassman Wealth Services now owns 1,098 shares of the financial services provider’s stock valued at $44,000 after buying an additional 371 shares in the last quarter. 79.10% of the stock is currently owned by institutional investors.

In related news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $38.97, for a total transaction of $145,747.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen T. Mclin sold 5,093 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $37.56, for a total value of $191,293.08. Following the sale, the director now directly owns 7,297 shares of the company’s stock, valued at $274,075.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,677 shares of company stock valued at $8,993,241. Company insiders own 10.90% of the company’s stock.

Shares of Charles Schwab stock traded up $0.04 on Friday, reaching $43.54. The company had a trading volume of 4,190,290 shares, compared to its average volume of 8,094,271. The firm has a market cap of $56.76 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 2.73 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s 50-day moving average price is $40.03 and its two-hundred day moving average price is $41.16. Charles Schwab Co. has a 1 year low of $34.58 and a 1 year high of $48.52.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Charles Schwab had a return on equity of 20.85% and a net margin of 35.12%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, analysts anticipate that Charles Schwab Co. will post 2.73 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, November 7th. Charles Schwab’s dividend payout ratio (DPR) is 27.76%.

Several research firms have weighed in on SCHW. Keefe, Bruyette & Woods cut Charles Schwab from an “outperform” rating to a “market perform” rating and cut their price target for the company from $51.00 to $43.50 in a report on Friday, July 12th. Barclays restated a “sell” rating and set a $35.00 price target on shares of Charles Schwab in a report on Tuesday, October 22nd. ValuEngine upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Wells Fargo & Co restated a “hold” rating on shares of Charles Schwab in a report on Tuesday, October 15th. Finally, Citigroup raised their price target on Charles Schwab from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $44.38.

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.

Further Reading: How is Preferred Stock Different from Common Stock?

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

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