Sigma Planning Corp Sells 2,824 Shares of The Charles Schwab Co. (NYSE:SCHW)

Sigma Planning Corp lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 27.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,642 shares of the financial services provider’s stock after selling 2,824 shares during the quarter. Sigma Planning Corp’s holdings in Charles Schwab were worth $495,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after acquiring an additional 2,946,327 shares during the period. Legal & General Group Plc lifted its stake in 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 valued at $802,193,000 after buying an additional 225,397 shares during the period. Allen Investment Management LLC increased its stake in Charles Schwab by 3.0% in the second 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 in the last quarter. Lazard Asset Management LLC raised its stake in Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after buying an additional 596,589 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Charles Schwab by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after purchasing an additional 38,201 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. JMP Securities upped 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. The Goldman Sachs Group increased their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Citigroup cut their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.18.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,645 shares of company stock worth $7,440,627 in the last ninety days. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $80.64 on Friday. The business has a 50 day moving average of $68.38 and a 200 day moving average of $69.62. The company has a market cap of $143.51 billion, a PE ratio of 31.50, a P/E/G ratio of 1.71 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52 week low of $55.09 and a 52 week high of $82.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

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.