WESPAC Advisors SoCal LLC Acquires Shares of 5,322 The Charles Schwab Co. (NYSE:SCHW)

WESPAC Advisors SoCal LLC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,322 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Trust Advisors LP purchased a new stake in shares of The Charles Schwab in the first quarter valued at about $1,805,000. Schroder Investment Management Group boosted its holdings 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 acquiring an additional 19,624 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of The Charles Schwab in the first quarter valued at about $4,296,000. Ameritas Investment Company LLC purchased a new stake in shares of The Charles Schwab in the first quarter valued at about $29,000. Finally, Advisor Group Holdings Inc. purchased a new stake in shares of The Charles Schwab in the first quarter valued at about $5,814,000. Institutional investors own 85.31% of the company’s stock.

In other news, Chairman Charles R. Schwab sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $34.11, for a total value of $6,822,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan M. Craig sold 6,326 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $40.00, for a total transaction of $253,040.00. The disclosure for this sale can be found here. In the last three months, insiders sold 271,382 shares of company stock valued at $9,234,249. Company insiders own 10.80% of the company’s stock.

Shares of NYSE SCHW traded down $1.38 on Monday, hitting $38.97. The company’s stock had a trading volume of 307,886 shares, compared to its average volume of 11,895,839. The Charles Schwab Co. has a 12-month low of $28.00 and a 12-month high of $51.65. The company has a market capitalization of $52.00 billion, a price-to-earnings ratio of 18.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a 50 day moving average of $36.69 and a 200-day moving average of $35.62.

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, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.43 billion. The Charles Schwab had a net margin of 29.80% and a return on equity of 14.02%. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Sell-side analysts expect that The Charles Schwab Co. will post 2.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 12th. The Charles Schwab’s dividend payout ratio is presently 26.47%.

Several analysts have recently weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of The Charles Schwab from $37.00 to $38.00 and gave the company a “hold” rating in a report on Friday, July 17th. Morgan Stanley boosted their price objective on shares of The Charles Schwab from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th. Bank of America boosted their price objective on shares of The Charles Schwab from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, October 16th. Raymond James reissued a “hold” rating on shares of The Charles Schwab in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on shares of The Charles Schwab from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The Charles Schwab presently has a consensus rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

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