Legacy Bridge LLC reduced its position in shares of Charles Schwab Co. (NYSE:SCHW) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,669 shares of the financial services provider’s stock after selling 600 shares during the period. Legacy Bridge LLC’s holdings in Charles Schwab were worth $446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Charles Schwab by 0.9% in the second quarter. Vanguard Group Inc. now owns 91,211,828 shares of the financial services provider’s stock valued at $3,665,804,000 after acquiring an additional 794,114 shares in the last quarter. BlackRock Inc. raised its holdings in Charles Schwab by 3.7% in the second quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock valued at $3,499,773,000 after acquiring an additional 3,140,824 shares in the last quarter. Edgewood Management LLC raised its holdings in Charles Schwab by 1.2% in the second quarter. Edgewood Management LLC now owns 22,116,063 shares of the financial services provider’s stock valued at $888,845,000 after acquiring an additional 256,759 shares in the last quarter. Northern Trust Corp raised its holdings in Charles Schwab by 0.6% in the second quarter. Northern Trust Corp now owns 16,812,955 shares of the financial services provider’s stock valued at $675,714,000 after acquiring an additional 104,298 shares in the last quarter. Finally, Investec Asset Management LTD raised its holdings in Charles Schwab by 31.6% in the second quarter. Investec Asset Management LTD now owns 6,885,579 shares of the financial services provider’s stock valued at $276,731,000 after acquiring an additional 1,652,518 shares in the last quarter. 79.07% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on the stock. Citigroup upped their price target on shares of Charles Schwab from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating and cut their price target for the company from $51.00 to $43.50 in a report on Friday, July 12th. Barclays cut shares of Charles Schwab from an “overweight” rating to an “underweight” rating and cut their price target for the company from $48.00 to $34.00 in a report on Wednesday, October 2nd. Argus reaffirmed a “buy” rating and issued a $52.00 price target (down from $57.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, ValuEngine upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Charles Schwab has an average rating of “Hold” and a consensus target price of $44.09.

SCHW stock traded down $0.52 during trading on Wednesday, hitting $39.22. 245,295 shares of the company’s stock traded hands, compared to its average volume of 11,566,439. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. Charles Schwab Co. has a 52 week low of $34.58 and a 52 week high of $49.24. The stock has a fifty day moving average price of $39.49 and a two-hundred day moving average price of $41.55. The stock has a market capitalization of $48.73 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 2.51 and a beta of 1.32.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Charles Schwab had a net margin of 35.29% and a return on equity of 20.52%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Charles Schwab Co. will post 2.62 EPS for the current fiscal year.

In other news, Chairman Charles R. Schwab sold 105,422 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.08, for a total transaction of $4,225,313.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan M. Craig sold 3,740 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $38.97, for a total transaction of $145,747.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,677 shares of company stock valued at $8,993,241. 10.90% of the stock is owned by insiders.

Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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

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