Hoertkorn Richard Charles Acquires Shares of 100,090 The Charles Schwab Co. (NYSE:SCHW)

Hoertkorn Richard Charles bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 100,090 shares of the financial services provider’s stock, valued at approximately $6,487,000. Charles Schwab makes up about 2.8% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 12th largest position.

Several other institutional investors also recently made changes to their positions in the stock. Country Trust Bank acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new stake in Charles Schwab during the second quarter worth about $27,000. Fortitude Family Office LLC increased its stake in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. CGC Financial Services LLC purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab during the 2nd quarter worth about $29,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 1.1 %

Charles Schwab stock opened at $71.71 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The firm’s 50-day moving average is $65.45 and its 200-day moving average is $69.50. The company has a market cap of $127.53 billion, a P/E ratio of 28.01, a PEG ratio of 1.65 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. Charles Schwab’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that The Charles Schwab Co. will post 3.11 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 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insider Activity

In other news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,001 shares of company stock valued at $12,512,592. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on SCHW shares. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Wells Fargo & Company increased their target price on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Cowen boosted their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley reduced their target price on shares of Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $73.59.

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.