Greenwich Wealth Management LLC Makes New $5.58 Million Investment in The Charles Schwab Co. (NYSE:SCHW)

Greenwich Wealth Management LLC bought a new stake in The Charles Schwab Co. (NYSE:SCHW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 86,121 shares of the financial services provider’s stock, valued at approximately $5,582,000.

Other large investors also recently made changes to their positions in the company. Biechele Royce Advisors boosted its holdings in Charles Schwab by 10.0% in the 3rd quarter. Biechele Royce Advisors now owns 210,531 shares of the financial services provider’s stock valued at $13,644,000 after purchasing an additional 19,061 shares during the period. VELA Investment Management LLC raised its holdings in Charles Schwab by 1.3% in the 3rd quarter. VELA Investment Management LLC now owns 23,657 shares of the financial services provider’s stock valued at $1,533,000 after acquiring an additional 313 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Charles Schwab by 2.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 27,350 shares of the financial services provider’s stock valued at $1,773,000 after acquiring an additional 751 shares during the period. Lebenthal Global Advisors LLC grew its holdings in shares of Charles Schwab by 6.2% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 16,603 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 964 shares in the last quarter. Finally, Principal Securities Inc. increased its position in shares of Charles Schwab by 4.7% in the third quarter. Principal Securities Inc. now owns 128,180 shares of the financial services provider’s stock worth $8,307,000 after purchasing an additional 5,798 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.2 %

Shares of Charles Schwab stock traded up $0.11 during trading on Friday, reaching $70.94. 6,266,153 shares of the company traded hands, compared to its average volume of 8,068,163. The firm has a market capitalization of $126.16 billion, a PE ratio of 27.71, a P/E/G ratio of 1.62 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $53.49 and a 1-year high of $79.49. The company has a 50 day moving average price of $66.39 and a 200-day moving average price of $69.53. 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 posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share 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 17.52% and a net margin of 27.47%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.41%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Analyst Ratings Changes

A number of brokerages have issued reports on SCHW. UBS Group reduced their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Barclays upped their target price on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group dropped their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their target price on Charles Schwab from $77.00 to $76.00 in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group raised their price target 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.94.

Insider Buying and Selling at Charles Schwab

In related 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 transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. 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 can be accessed through this link. In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The shares were 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 owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 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 directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,465 shares of company stock worth $8,050,109. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab 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.