Davis RM Inc. Acquires New Position in The Charles Schwab Corporation (SCHW) – Dispatch Tribunal


Davis R M Inc. acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,786 shares of the financial services provider’s stock, valued at approximately $253,000.

Other large investors also recently added to or reduced their stakes in the company. WealthTrust Arizona LLC boosted its stake in shares of The Charles Schwab Corporation by 1.2% during the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 29 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in shares of The Charles Schwab Corporation during the second quarter valued at approximately $145,000. Fiduciary Trust Co. purchased a new stake in shares of The Charles Schwab Corporation during the second quarter valued at approximately $163,000. Quadrant Capital Group LLC boosted its stake in shares of The Charles Schwab Corporation by 31.4% during the second quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 1,082 shares during the period. Finally, Founders Capital Management boosted its stake in shares of The Charles Schwab Corporation by 7.7% during the second quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 300 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

The Charles Schwab Corporation (NYSE:SCHW) traded down 0.97% during trading on Friday, reaching $44.91. The company’s stock had a trading volume of 5,233,009 shares. The firm’s 50-day moving average price is $42.83 and its 200 day moving average price is $41.30. The company has a market capitalization of $60.13 billion, a P/E ratio of 28.61 and a beta of 1.68. The Charles Schwab Corporation has a 12-month low of $30.66 and a 12-month high of $46.21.

The Charles Schwab Corporation (NYSE:SCHW) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The Charles Schwab Corporation had a return on equity of 16.07% and a net margin of 27.30%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the business earned $0.35 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Corporation will post $1.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, November 9th. The Charles Schwab Corporation’s dividend payout ratio is 20.51%.

SCHW has been the subject of a number of analyst reports. Deutsche Bank AG dropped their price objective on The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, July 4th. BidaskClub lowered The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $49.00 price target on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Morgan Stanley raised their price target on The Charles Schwab Corporation from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, October 5th. Finally, Citigroup Inc. started coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target for the company. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The Charles Schwab Corporation has a consensus rating of “Buy” and a consensus price target of $47.07.

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In related news, EVP Terri R. Kallsen sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total transaction of $38,990.00. Following the completion of the sale, the executive vice president now directly owns 5,212 shares in the company, valued at approximately $203,215.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 26,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $42.80, for a total value of $1,112,800.00. The disclosure for this sale can be found here. Insiders sold a total of 1,067,798 shares of company stock valued at $46,645,783 over the last quarter. Company insiders own 12.00% of the company’s stock.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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




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