Prospera Financial Services Inc Purchases 6,590 Shares of The Charles Schwab Co. (NYSE:SCHW)

Prospera Financial Services Inc boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 45.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,945 shares of the financial services provider’s stock after acquiring an additional 6,590 shares during the period. Prospera Financial Services Inc’s holdings in Charles Schwab were worth $1,358,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SCHW. Alliance Wealth Advisors LLC increased its holdings in Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after buying an additional 142 shares during the period. Washington Trust Advisors Inc. increased its stake in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the period. Arcataur Capital Management LLC increased its stake in shares of Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 150 shares during the period. Tandem Capital Management Corp ADV lifted its position in Charles Schwab by 0.3% during the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after purchasing an additional 150 shares during the period. Finally, Ascent Wealth Partners LLC boosted its holdings in Charles Schwab by 0.7% in the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after purchasing an additional 164 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab 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 sale, the director now owns 442,807 shares in the company, valued at $36,057,774.01. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,929 shares of company stock worth $8,196,624. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SCHW has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Cowen boosted their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Jefferies Financial Group dropped their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company increased their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.18.

Charles Schwab Stock Up 0.4 %

Shares of SCHW opened at $80.80 on Friday. The stock has a 50 day moving average price of $70.17 and a 200 day moving average price of $69.82. 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 stock has a market capitalization of $143.80 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.74 and a beta of 0.96. The Charles Schwab Co. has a one year low of $55.42 and a one year high of $82.50.

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 the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. Charles Schwab’s dividend payout ratio is presently 39.06%.

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.