K.J. Harrison & Partners Inc Sells 20,000 Shares of The Charles Schwab Corporation $SCHW

K.J. Harrison & Partners Inc cut its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 36.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 34,943 shares of the financial services provider’s stock after selling 20,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Charles Schwab were worth $3,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pine Haven Investment Counsel Inc lifted its position in Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after acquiring an additional 110 shares in the last quarter. Principle Wealth Partners LLC lifted its position in Charles Schwab by 2.0% in the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 113 shares in the last quarter. Traveka Wealth LLC lifted its position in Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 117 shares in the last quarter. Leavell Investment Management Inc. lifted its position in Charles Schwab by 1.0% in the 2nd quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock valued at $1,111,000 after acquiring an additional 118 shares in the last quarter. Finally, Tlwm lifted its position in Charles Schwab by 0.7% in the 2nd quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock valued at $1,614,000 after acquiring an additional 120 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SCHW shares. Bank of America increased their price target on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Morgan Stanley lowered their price target on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Finally, Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $94.62 on Monday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The stock’s fifty day moving average is $94.29 and its 200 day moving average is $91.35. The stock has a market cap of $171.75 billion, a P/E ratio of 22.16, a P/E/G ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Charles Schwab declared that its Board of Directors has authorized a share buyback plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,866 shares of company stock valued at $6,370,897 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Company 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.