Conning Inc. Purchases 11,035 Shares of The Charles Schwab Co. (NYSE:SCHW)

Conning Inc. raised its position in The Charles Schwab Co. (NYSE:SCHW) by 16.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,628 shares of the financial services provider’s stock after purchasing an additional 11,035 shares during the period. Conning Inc.’s holdings in Charles Schwab were worth $5,096,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. First Interstate Bank increased its stake in Charles Schwab by 2.5% in the third quarter. First Interstate Bank now owns 62,051 shares of the financial services provider’s stock valued at $4,022,000 after purchasing an additional 1,490 shares in the last quarter. Greenwich Wealth Management LLC acquired a new stake in shares of Charles Schwab during the third quarter worth $5,582,000. Biechele Royce Advisors raised its holdings in shares of Charles Schwab by 10.0% during the third quarter. Biechele Royce Advisors now owns 210,531 shares of the financial services provider’s stock worth $13,644,000 after acquiring an additional 19,061 shares during the period. VELA Investment Management LLC raised its holdings in shares of Charles Schwab by 1.3% during the third quarter. VELA Investment Management LLC now owns 23,657 shares of the financial services provider’s stock worth $1,533,000 after acquiring an additional 313 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Charles Schwab by 2.8% during the third quarter. Farther Finance Advisors LLC now owns 27,350 shares of the financial services provider’s stock worth $1,773,000 after acquiring an additional 751 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $70.94 on Friday. The firm has a 50-day moving average of $66.39 and a 200-day moving average of $69.50. The Charles Schwab Co. has a one year low of $53.49 and a one year high of $79.49. The company has a market cap of $126.16 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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 net margin of 27.47% and a return on equity of 17.52%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research analyst reports. Jefferies Financial Group dropped their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Bank of America dropped their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Finally, Citigroup lowered their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $73.94.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now owns 562,129 shares of the company’s stock, valued at approximately $36,594,597.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,465 shares of company stock valued at $8,050,109. Company insiders own 6.60% of the company’s stock.

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.