Today, Cohen Capital Management Inc. Raises Stake in The Charles Schwab Corp. (SCHW)

Today, Cohen Capital Management Inc. Raises Stake in The Charles Schwab Corp. (SCHW)

Cohen Capital Management Inc. increased its stake in The Charles Schwab Corp. (NYSE:SCHW) by 0.7% during the third quarter, Holdings Channel reports. The fund owned 245,436 shares of the company’s stock after buying an additional 1,750 shares during the period. The Charles Schwab Corp. comprises about 2.2% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 12th largest position. Cohen Capital Management Inc.’s holdings in The Charles Schwab Corp. were worth $7,748,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SCHW. LPL Financial LLC boosted its stake in The Charles Schwab Corp. by 10.8% in the first quarter. LPL Financial LLC now owns 106,748 shares of the company’s stock worth $2,926,000 after buying an additional 10,379 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in The Charles Schwab Corp. by 14.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,221 shares of the company’s stock worth $652,000 after buying an additional 3,014 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in The Charles Schwab Corp. by 11.4% in the first quarter. First Republic Investment Management Inc. now owns 416,137 shares of the company’s stock worth $11,660,000 after buying an additional 42,647 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in The Charles Schwab Corp. by 33.9% in the second quarter. Integrated Investment Consultants LLC now owns 4,943 shares of the company’s stock worth $125,000 after buying an additional 1,252 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. acquired a new stake in The Charles Schwab Corp. during the second quarter worth $7,352,000. Institutional investors own 76.52% of the company’s stock.

Shares of The Charles Schwab Corp. (NYSE:SCHW) traded down 1.64% during midday trading on Monday, reaching $38.35. 6,973,873 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $33.68 and a 200-day moving average price of $30.28. The Charles Schwab Corp. has a 52-week low of $21.51 and a 52-week high of $39.22. The stock has a market cap of $50.84 billion, a P/E ratio of 30.93 and a beta of 1.68.

The Charles Schwab Corp. (NYSE:SCHW) last posted its earnings results on Monday, October 17th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company earned $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. The Charles Schwab Corp. had a net margin of 24.77% and a return on equity of 13.64%. The Charles Schwab Corp.’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. Analysts forecast that The Charles Schwab Corp. will post $1.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Monday, November 14th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Wednesday, November 9th. The Charles Schwab Corp.’s dividend payout ratio is presently 22.95%.

A number of analysts recently weighed in on SCHW shares. Argus reissued a “buy” rating and issued a $36.00 target price (up previously from $34.00) on shares of The Charles Schwab Corp. in a research note on Friday, October 21st. SunTrust Banks Inc. upgraded shares of The Charles Schwab Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $32.00 to $33.00 in a research report on Tuesday, October 18th. Zacks Investment Research upgraded shares of The Charles Schwab Corp. from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Monday, September 26th. Credit Suisse Group AG restated a “buy” rating and issued a $32.00 price target on shares of The Charles Schwab Corp. in a research report on Monday, October 10th. Finally, boosted their price target on shares of The Charles Schwab Corp. from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 22nd. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $33.69.

In other The Charles Schwab Corp. news, insider Walter W. Bettinger sold 612,000 shares of The Charles Schwab Corp. stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $32.65, for a total value of $19,981,800.00. Following the completion of the sale, the insider now owns 956,459 shares in the company, valued at approximately $31,228,386.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Walter W. Bettinger sold 34,233 shares of The Charles Schwab Corp. stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $39.21, for a total transaction of $1,342,275.93. Following the completion of the sale, the insider now owns 277,892 shares of the company’s stock, valued at approximately $10,896,145.32. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.

The Charles Schwab Corp. Company Profile

The Charles Schwab Corporation 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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