Premier Fund Managers Ltd Has $57.97 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Premier Fund Managers Ltd raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 900,000 shares of the financial services provider’s stock after purchasing an additional 70,000 shares during the quarter. Charles Schwab accounts for 2.1% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 19th biggest holding. Premier Fund Managers Ltd’s holdings in Charles Schwab were worth $57,974,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SCHW. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Legal & General Group Plc boosted its stake in shares of Charles Schwab by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after buying an additional 225,397 shares during the period. Allen Investment Management LLC grew its holdings in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after acquiring an additional 251,485 shares in the last quarter. Lazard Asset Management LLC grew its stake in Charles Schwab by 8.9% in the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock valued at $528,445,000 after purchasing an additional 596,589 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Charles Schwab by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after purchasing an additional 38,201 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.5 %

SCHW stock opened at $80.18 on Wednesday. The Charles Schwab Co. has a twelve month low of $55.42 and a twelve month high of $82.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $142.69 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The business’s 50-day simple moving average is $69.45 and its 200 day simple moving average is $69.67.

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 the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. On average, research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,645 shares of company stock worth $7,440,627 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SCHW shares. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 16th. Citigroup reduced their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Piper Sandler increased their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Jefferies Financial Group lowered their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.18.

Charles Schwab 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.