Independent Advisor Alliance Buys 7,301 Shares of The Charles Schwab Co. (NYSE:SCHW)

Independent Advisor Alliance increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 22.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,210 shares of the financial services provider’s stock after purchasing an additional 7,301 shares during the period. Independent Advisor Alliance’s holdings in Charles Schwab were worth $2,606,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James dropped their target price on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Cowen boosted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. JMP Securities boosted their price target on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.18.

Charles Schwab Trading Up 0.6 %

Charles Schwab stock opened at $81.77 on Tuesday. The firm has a 50-day moving average of $70.91 and a 200-day moving average of $69.81. The Charles Schwab Co. has a one year low of $55.59 and a one year high of $82.50. 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 company has a market cap of $145.52 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 1.76 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business posted $0.77 EPS. The company’s quarterly 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. Charles Schwab’s payout ratio is 39.06%.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,929 shares of company stock valued at $8,196,624. 6.60% of the stock is owned by company insiders.

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.