Dai ichi Life Insurance Company Ltd Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

Dai ichi Life Insurance Company Ltd lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 21.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,401 shares of the financial services provider’s stock after selling 29,024 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Charles Schwab were worth $7,090,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Patten & Patten Inc. TN grew its stake in shares of Charles Schwab by 155.9% during the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after buying an additional 63,463 shares during the last quarter. Equity Investment Corp grew its stake in shares of Charles Schwab by 9.4% in the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after purchasing an additional 140,643 shares during the last quarter. Teewinot Capital Advisers L.L.C. grew its stake in shares of Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the last quarter. Iowa State Bank grew its stake in shares of Charles Schwab by 37.9% in the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares during the last quarter. Finally, Radnor Capital Management LLC bought a new stake in shares of Charles Schwab in the third quarter worth about $6,081,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,668 shares of company stock worth $9,230,648 in the last three months. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler raised their target price on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Citigroup lowered their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Finally, Barclays raised their price objective on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a 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 given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.18.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $82.22 on Wednesday. The Charles Schwab Co. has a twelve month low of $55.59 and a twelve month high of $82.50. The firm has a market cap of $146.32 billion, a P/E ratio of 32.12, a PEG ratio of 1.77 and a beta of 0.96. The company has a 50 day moving average of $71.28 and a 200 day moving average of $69.85. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Charles Schwab’s payout ratio is currently 39.06%.

Charles Schwab Company Profile

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.