The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Ruane Cunniff & Goldfarb L.P.

Ruane Cunniff & Goldfarb L.P. reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,450,286 shares of the financial services provider’s stock after selling 334,771 shares during the period. Charles Schwab comprises about 7.6% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 5th biggest holding. Ruane Cunniff & Goldfarb L.P. owned about 0.42% of Charles Schwab worth $482,853,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. lifted its holdings in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Charles Schwab during the third quarter valued at $25,000. Country Trust Bank purchased a new position in Charles Schwab during the second quarter valued at $26,000. American Capital Advisory LLC purchased a new position in Charles Schwab during the second quarter valued at $27,000. Finally, Fortitude Family Office LLC lifted its holdings in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 0.4 %

Shares of SCHW stock opened at $82.60 on Thursday. 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 firm has a market cap of $147.00 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a 50-day moving average of $71.66 and a two-hundred day moving average of $69.94. The Charles Schwab Co. has a 1-year low of $55.59 and a 1-year high of $82.65.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, 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 owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on 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 directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,968 shares of company stock valued at $9,419,271 over the last 90 days. 6.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on SCHW shares. The Goldman Sachs Group increased their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Citigroup reduced their target price 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, Piper Sandler increased their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.