QCI Asset Management Inc. NY grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 333,249 shares of the financial services provider’s stock after buying an additional 13,228 shares during the quarter. The Charles Schwab accounts for approximately 1.6% of QCI Asset Management Inc. NY’s holdings, making the stock its 28th biggest holding. QCI Asset Management Inc. NY’s holdings in The Charles Schwab were worth $14,576,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. WealthTrust Arizona LLC increased its position in shares of The Charles Schwab by 1.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of The Charles Schwab during the 2nd quarter worth about $145,000. Fiduciary Trust Co. acquired a new stake in shares of The Charles Schwab during the 2nd quarter worth about $163,000. Quadrant Capital Group LLC increased its position in shares of The Charles Schwab by 31.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,082 shares in the last quarter. Finally, Founders Capital Management increased its position in shares of The Charles Schwab by 7.7% during the 2nd quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 79.41% of the company’s stock.

Shares of The Charles Schwab Co. (NYSE SCHW) traded up $0.27 during midday trading on Monday, hitting $44.27. 4,512,000 shares of the stock traded hands, compared to its average volume of 7,115,542. The company has a market cap of $59,060.00, a price-to-earnings ratio of 28.38, a PEG ratio of 1.88 and a beta of 1.74. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The Charles Schwab Co. has a one year low of $34.85 and a one year high of $46.21.

The Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. The Charles Schwab had a net margin of 27.36% and a return on equity of 15.40%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. equities research analysts expect that The Charles Schwab Co. will post 1.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Thursday, November 9th. The Charles Schwab’s dividend payout ratio (DPR) is presently 20.51%.

A number of brokerages recently issued reports on SCHW. BidaskClub cut shares of The Charles Schwab from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Barclays PLC increased their target price on shares of The Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Morgan Stanley increased their target price on shares of The Charles Schwab from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. Argus reiterated a “buy” rating and set a $48.00 target price (up previously from $46.00) on shares of The Charles Schwab in a research report on Friday, July 21st. Finally, Instinet reiterated a “neutral” rating and set a $43.00 target price (down previously from $46.00) on shares of The Charles Schwab in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $47.07.

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In related news, EVP Bernard J. Clark sold 75,244 shares of The Charles Schwab stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $43.98, for a total transaction of $3,309,231.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Walter W. Bettinger acquired 72,510 shares of The Charles Schwab stock in a transaction that occurred on Tuesday, November 7th. The shares were purchased at an average cost of $27.21 per share, for a total transaction of $1,972,997.10. Following the purchase, the insider now directly owns 41,330 shares in the company, valued at $1,124,589.30. The disclosure for this purchase can be found here. Insiders sold a total of 573,095 shares of company stock worth $25,552,240 in the last ninety days. Insiders own 12.00% of the company’s stock.

The Charles Schwab Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

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