Harfst & Associates Inc. Cuts Stock Holdings in The Charles Schwab Corporation $SCHW

Harfst & Associates Inc. cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 23.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,617 shares of the financial services provider’s stock after selling 10,023 shares during the period. Charles Schwab accounts for 0.6% of Harfst & Associates Inc.’s holdings, making the stock its 19th biggest holding. Harfst & Associates Inc.’s holdings in Charles Schwab were worth $3,067,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC grew its holdings in Charles Schwab by 26.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after purchasing an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Charles Schwab in the 1st quarter worth $79,605,000. Figure 8 Investment Strategies LLC purchased a new position in Charles Schwab during the 2nd quarter worth $924,000. Independent Advisor Alliance increased its position in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after buying an additional 4,754 shares in the last quarter. Finally, PFG Investments LLC grew its stake in shares of Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 550 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.2%

SCHW stock opened at $91.86 on Thursday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s fifty day moving average is $93.84 and its 200 day moving average is $92.89. The firm has a market cap of $163.23 billion, a PE ratio of 21.51, a P/E/G ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. On average, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SCHW. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Barclays raised their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, BMO Capital Markets assumed coverage on shares of Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,482 shares of company stock valued at $905,295. 6.30% of the stock is owned by insiders.

Charles Schwab Company Profile

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.