Parnassus Investments LLC Purchases 66,876 Shares of The Charles Schwab Co. (NYSE:SCHW)

Parnassus Investments LLC lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,694,634 shares of the financial services provider’s stock after purchasing an additional 66,876 shares during the quarter. Parnassus Investments LLC owned 0.10% of Charles Schwab worth $109,829,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Charles Schwab by 26.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 83,207 shares of the financial services provider’s stock valued at $6,019,000 after acquiring an additional 17,433 shares during the last quarter. Bessemer Group Inc. boosted its stake in Charles Schwab by 7.2% during the first quarter. Bessemer Group Inc. now owns 365,888 shares of the financial services provider’s stock worth $26,468,000 after buying an additional 24,431 shares during the period. Lake Street Advisors Group LLC increased its position in Charles Schwab by 28.7% during the first quarter. Lake Street Advisors Group LLC now owns 13,187 shares of the financial services provider’s stock valued at $954,000 after acquiring an additional 2,942 shares during the last quarter. Pitcairn Co. increased its position in Charles Schwab by 10.1% during the first quarter. Pitcairn Co. now owns 11,072 shares of the financial services provider’s stock valued at $801,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Charles Schwab in the first quarter valued at $523,000. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,645 shares of company stock valued at $7,440,627. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $81.40 on Tuesday. 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 company has a 50 day moving average price of $69.10 and a 200-day moving average price of $69.64. The Charles Schwab Co. has a fifty-two week low of $55.42 and a fifty-two week high of $82.50. The stock has a market capitalization of $144.86 billion, a PE ratio of 31.80, a PEG ratio of 1.76 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $0.77 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Equities analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Cowen increased their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Raymond James dropped their price objective on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Finally, Wells Fargo & Company increased their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Two 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 stock presently has an average rating of “Hold” and a consensus target price of $74.18.

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.