Quest Partners LLC Takes Position in The Charles Schwab Co. (NYSE:SCHW)

Quest Partners LLC purchased a new position in The Charles Schwab Co. (NYSE:SCHW) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,161 shares of the financial services provider’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares during the last quarter. Allen Investment Management LLC increased its holdings 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 buying an additional 251,485 shares during the last quarter. Principal Financial Group Inc. raised its stake in Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after buying an additional 38,201 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Charles Schwab by 1.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,519,303 shares of the financial services provider’s stock worth $406,717,000 after buying an additional 71,143 shares during the last quarter. Finally, Boston Partners grew its position in shares of Charles Schwab by 21.2% in the 1st quarter. Boston Partners now owns 5,395,138 shares of the financial services provider’s stock worth $390,856,000 after acquiring an additional 944,048 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $82.22 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $146.32 billion, a PE ratio of 32.12, a PEG ratio of 1.76 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $55.59 and a twelve month high of $82.50. The firm’s 50 day moving average price is $71.28 and its 200 day moving average price is $69.85.

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, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. Charles Schwab’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. As a group, research analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio is 39.06%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SCHW. Barclays increased their price objective on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Bank of America cut their target price 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Raymond James decreased their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Two equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.18.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This trade represents a 5.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value 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. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,668 shares of company stock valued at $9,230,648. Corporate insiders own 6.60% of the company’s stock.

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.