Cornerstone Capital Inc. Sells 8,659 Shares of The Charles Schwab Corporation $SCHW

Cornerstone Capital Inc. reduced its stake in The Charles Schwab Corporation (NYSE:SCHW) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,543 shares of the financial services provider’s stock after selling 8,659 shares during the quarter. Cornerstone Capital Inc.’s holdings in Charles Schwab were worth $12,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bryn Mawr Trust Advisors LLC boosted its holdings in Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after acquiring an additional 107 shares in the last quarter. Pine Haven Investment Counsel Inc increased its holdings in shares of Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after acquiring an additional 110 shares in the last quarter. Principle Wealth Partners LLC raised its position in shares of Charles Schwab by 2.0% in the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 113 shares during the last quarter. Traveka Wealth LLC raised its position in shares of Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 117 shares during the last quarter. Finally, 1ST Source Bank boosted its stake in Charles Schwab by 0.5% in the 2nd quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock worth $2,161,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SCHW. Bank of America raised their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Barclays raised their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. increased their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, BMO Capital Markets assumed coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Charles Schwab Trading Up 0.0%

NYSE:SCHW opened at $90.52 on Tuesday. The company has a market cap of $160.85 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $93.85 and a two-hundred day simple moving average of $92.85. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59.

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

Charles Schwab Dividend Announcement

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

Insider Activity

In related news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,938 shares of company stock worth $6,671,953 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

About Charles Schwab

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.