Lebenthal Global Advisors LLC Has $1.08 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Lebenthal Global Advisors LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,603 shares of the financial services provider’s stock after acquiring an additional 964 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Charles Schwab were worth $1,076,000 at the end of the most recent quarter.

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

Charles Schwab Stock Up 0.3 %

NYSE SCHW traded up $0.22 during trading hours on Friday, hitting $71.05. 747,816 shares of the company were exchanged, compared to its average volume of 7,992,657. The company has a 50 day moving average of $66.26 and a two-hundred day moving average of $69.53. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 52-week low of $53.49 and a 52-week high of $79.49. The firm has a market cap of $126.36 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.63 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. Equities research analysts anticipate that The Charles Schwab Co. will post 3.11 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. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. Charles Schwab’s payout ratio is 39.06%.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group dropped their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. TD Cowen restated a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Bank of America reduced their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.94.

About Charles Schwab

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.