Pitcairn Co. Has $703,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Pitcairn Co. lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 2.2% in the third quarter, HoldingsChannel.com reports. The fund owned 9,648 shares of the financial services provider’s stock after selling 220 shares during the quarter. Pitcairn Co.’s holdings in Charles Schwab were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in SCHW. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Charles Schwab in the third quarter valued at about $26,000. Annapolis Financial Services LLC raised its position in shares of Charles Schwab by 135.5% in the third quarter. Annapolis Financial Services LLC now owns 365 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 210 shares during the period. American National Bank bought a new position in shares of Charles Schwab in the third quarter valued at about $28,000. Total Clarity Wealth Management Inc. bought a new position in shares of Charles Schwab in the third quarter valued at about $29,000. Finally, Destiny Wealth Partners LLC bought a new position in shares of Charles Schwab in the third quarter valued at about $34,000. Hedge funds and other institutional investors own 71.35% of the company’s stock.

SCHW stock opened at $95.53 on Friday. The company’s 50-day moving average price is $83.80 and its two-hundred day moving average price is $77.22. The Charles Schwab Co. has a 12 month low of $50.76 and a 12 month high of $95.62. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.41. The firm has a market cap of $173.03 billion, a P/E ratio of 36.32, a P/E/G ratio of 0.93 and a beta of 1.04.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 14th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Charles Schwab had a net margin of 30.08% and a return on equity of 13.53%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period last year, the company posted $0.51 EPS. The firm’s quarterly revenue was up 86.7% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Co. will post 3.27 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 26th. Stockholders of record on Friday, November 12th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.75%. Charles Schwab’s payout ratio is currently 27.38%.

In related news, Chairman Charles R. Schwab sold 185,250 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 20th. The shares were sold at an average price of $81.18, for a total transaction of $15,038,595.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Walter W. Bettinger sold 245,239 shares of Charles Schwab stock in a transaction that occurred on Tuesday, October 19th. The stock was sold at an average price of $81.12, for a total transaction of $19,893,787.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,185,428 shares of company stock worth $97,611,276. 7.50% of the stock is currently owned by corporate insiders.

Several brokerages have recently weighed in on SCHW. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $120.00 to $122.00 in a research report on Thursday. Zacks Investment Research lowered shares of Charles Schwab from a “buy” rating to a “hold” rating and set a $85.00 price target on the stock. in a research report on Tuesday, December 7th. Atlantic Securities began coverage on shares of Charles Schwab in a research report on Tuesday, October 5th. They set an “overweight” rating and a $95.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Charles Schwab from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 22nd. Finally, Morgan Stanley raised their price target on shares of Charles Schwab from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Charles Schwab has an average rating of “Buy” and an average price target of $93.28.

Charles Schwab Profile

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

See Also: Convertible Shares

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHW).

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

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.