Prentiss Smith & Co. Inc. Has $3.67 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Prentiss Smith & Co. Inc. reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,551 shares of the financial services provider’s stock after selling 596 shares during the quarter. Charles Schwab comprises about 2.3% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its 18th biggest position. Prentiss Smith & Co. Inc.’s holdings in Charles Schwab were worth $3,665,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after acquiring an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after acquiring an additional 2,946,327 shares during the period. Legal & General Group Plc raised its stake in 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 valued at $802,193,000 after acquiring an additional 225,397 shares during the period. Allen Investment Management LLC increased its position in shares of Charles Schwab by 3.0% during 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 period. Finally, Lazard Asset Management LLC lifted its holdings in shares of Charles Schwab by 8.9% in the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after buying an additional 596,589 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Down 0.6 %

Shares of NYSE SCHW traded down $0.43 during mid-day trading on Monday, reaching $70.93. The company had a trading volume of 1,615,025 shares, compared to its average volume of 8,085,871. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The business’s 50-day moving average is $64.97 and its 200-day moving average is $69.49. The stock has a market cap of $126.06 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. Equities analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was 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 $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’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 sale, the chairman now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,001 shares of company stock worth $12,512,592 in the last 90 days. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SCHW shares. The Goldman Sachs Group upped 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. Cowen raised 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. JMP Securities increased their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 16th. UBS Group reduced their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group lowered their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a report on Friday, October 4th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.