Charles Schwab Investment Management Inc. Raises Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Charles Schwab Investment Management Inc. grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,893,522 shares of the financial services provider’s stock after purchasing an additional 66,022 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Charles Schwab were worth $511,579,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares during the period. Darsana Capital Partners LP raised its stake in shares of Charles Schwab by 200.0% in the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after acquiring an additional 2,000,000 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after purchasing an additional 1,644,931 shares during the period. Finally, Boston Partners raised its position in Charles Schwab by 21.2% in the 1st quarter. Boston Partners now owns 5,395,138 shares of the financial services provider’s stock valued at $390,856,000 after purchasing an additional 944,048 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 112,929 shares of company stock valued at $8,196,624. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SCHW shares. Cowen boosted their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Raymond James cut their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler upped their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.18.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $80.80 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a 50-day simple moving average of $70.17 and a 200-day simple moving average of $69.82. The Charles Schwab Co. has a one year low of $55.42 and a one year high of $82.50. The stock has a market capitalization of $143.80 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.74 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. On average, analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

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.