Allen Capital Group LLC Purchases 2,530 Shares of The Charles Schwab Co. (NYSE:SCHW)

Allen Capital Group LLC boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,968 shares of the financial services provider’s stock after buying an additional 2,530 shares during the quarter. Allen Capital Group LLC’s holdings in Charles Schwab were worth $4,599,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SCHW. Washington Trust Advisors Inc. raised its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Charles Schwab in the 3rd quarter worth about $25,000. Country Trust Bank purchased a new position in Charles Schwab in the 2nd quarter worth about $26,000. American Capital Advisory LLC purchased a new position in Charles Schwab in the 2nd quarter worth about $27,000. Finally, Fortitude Family Office LLC raised its position in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SCHW. Jefferies Financial Group reduced their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Citigroup reduced their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Finally, JMP Securities upped their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.18.

Insider Buying and Selling at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,929 shares of company stock valued at $8,196,624 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Trading Up 0.4 %

Shares of SCHW opened at $80.80 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1 year low of $55.42 and a 1 year high of $82.50. The company has a 50 day simple moving average of $70.17 and a two-hundred day simple moving average of $69.82. The firm has a market cap of $143.80 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.77 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

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.