Highland Capital Management LLC Sells 12,988 Shares of Charles Schwab Co. (SCHW)

Highland Capital Management LLC lowered its position in Charles Schwab Co. (NYSE:SCHW) by 60.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,335 shares of the financial services provider’s stock after selling 12,988 shares during the quarter. Highland Capital Management LLC’s holdings in Charles Schwab were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in SCHW. Eastern Bank increased its position in Charles Schwab by 1.0% during the 3rd quarter. Eastern Bank now owns 269,699 shares of the financial services provider’s stock valued at $13,256,000 after purchasing an additional 2,787 shares during the period. Nisa Investment Advisors LLC increased its position in Charles Schwab by 12.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 454,026 shares of the financial services provider’s stock valued at $22,315,000 after purchasing an additional 50,990 shares during the period. Gateway Investment Advisers LLC increased its position in Charles Schwab by 5.1% during the 3rd quarter. Gateway Investment Advisers LLC now owns 864,202 shares of the financial services provider’s stock valued at $42,476,000 after purchasing an additional 42,273 shares during the period. Hills Bank & Trust Co. increased its position in Charles Schwab by 4.0% during the 3rd quarter. Hills Bank & Trust Co. now owns 35,468 shares of the financial services provider’s stock valued at $1,743,000 after purchasing an additional 1,348 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its position in Charles Schwab by 22.8% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 811,581 shares of the financial services provider’s stock valued at $40,271,000 after purchasing an additional 150,949 shares during the period. 80.36% of the stock is owned by institutional investors.

In related news, Chairman Charles R. Schwab sold 190,500 shares of the stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $52.75, for a total value of $10,048,875.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan M. Craig sold 2,629 shares of the stock in a transaction on Monday, October 15th. The stock was sold at an average price of $48.84, for a total value of $128,400.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 217,271 shares of company stock valued at $11,385,530. Insiders own 11.50% of the company’s stock.

Shares of SCHW stock opened at $46.83 on Friday. The company has a market cap of $64.91 billion, a PE ratio of 28.55, a P/E/G ratio of 1.19 and a beta of 1.55. Charles Schwab Co. has a 52 week low of $43.33 and a 52 week high of $60.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, October 15th. The financial services provider reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.58 billion. Charles Schwab had a net margin of 32.65% and a return on equity of 19.46%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. On average, sell-side analysts expect that Charles Schwab Co. will post 2.45 earnings per share for the current fiscal year.

SCHW has been the subject of a number of recent analyst reports. Morgan Stanley set a $70.00 target price on shares of Charles Schwab and gave the company a “buy” rating in a research report on Tuesday, September 18th. JPMorgan Chase & Co. set a $59.00 target price on shares of Charles Schwab and gave the company a “buy” rating in a research report on Monday, July 16th. Zacks Investment Research downgraded shares of Charles Schwab from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of Charles Schwab in a research report on Monday, July 16th. Finally, Wells Fargo & Co increased their target price on shares of Charles Schwab from $54.00 to $56.00 and gave the company a “$54.22” rating in a research report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $58.77.

About Charles Schwab

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.

Further Reading: What is the balance sheet?

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

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