Charles Schwab declines; Allstate preferreds rise; Athene ends positively

By James McCandless

San Antonio, Nov. 3 – Moving into Tuesday, the preferred space ended the session with mixed results.

At the top of the day’s volume, Charles Schwab Corp.’s 5.95% series D non-cumulative perpetual preferred shares were down 13 cents to close at $25.77 on volume of about 2.5 million shares

Elsewhere in the finance space, Bank of America Corp.’s 4.375% series NN non-cumulative preferreds. dropped 8 cents to close at $24.90 with about 497,000 shares trading.

Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferreds pushed up 21 cents to close at $25.16 on volume of about 421,000 shares trading.

Insurance provider Allstate Corp.’s 5.1% fixed-to-floating rate subordinated debentures due 2053 tacked on 4 cents to close at $25.78 with about 197,000 shares trading.

Meanwhile, retirement services name Athene Holding Ltd.’s 6.375% series C fixed-rate reset perpetual non-cumulative preference shares improved by 25 cents to close at $27.32 on volume of about 124,000 shares trading.

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