IFM Investors Pty Ltd Purchases 887 Shares of The Charles Schwab Co. (NYSE:SCHW)

IFM Investors Pty Ltd grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 303,722 shares of the financial services provider’s stock after acquiring an additional 887 shares during the period. IFM Investors Pty Ltd’s holdings in Charles Schwab were worth $19,684,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SCHW. Global Assets Advisory LLC bought a new stake in shares of Charles Schwab in the 1st quarter worth about $1,060,000. Dynamic Advisor Solutions LLC grew its position in Charles Schwab by 5.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 17,826 shares of the financial services provider’s stock valued at $1,290,000 after acquiring an additional 889 shares during the last quarter. Brookstone Capital Management increased its stake in Charles Schwab by 27.7% in the first quarter. Brookstone Capital Management now owns 10,928 shares of the financial services provider’s stock worth $791,000 after purchasing an additional 2,372 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Charles Schwab during the first quarter worth $72,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Charles Schwab by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 976,477 shares of the financial services provider’s stock valued at $70,638,000 after purchasing an additional 35,164 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on 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 completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,001 shares of company stock valued at $12,512,592 over the last 90 days. 6.60% of the stock is owned by insiders.

Charles Schwab Trading Up 0.8 %

Charles Schwab stock traded up $0.54 during midday trading on Thursday, hitting $72.25. 2,384,401 shares of the stock were exchanged, compared to its average volume of 8,056,807. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $128.49 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.63 and a beta of 0.97. The stock’s 50-day simple moving average is $65.45 and its 200 day simple moving average is $69.50. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. Charles Schwab’s payout ratio is 39.06%.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Jefferies Financial Group dropped their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Bank of America dropped their price target on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $73.94.

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.