50,492 Shares in The Charles Schwab Corporation $SCHW Acquired by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 50,492 shares of the financial services provider’s stock, valued at approximately $4,607,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Charles Schwab in the second quarter valued at $1,889,858,000. Vanguard Group Inc. increased its holdings in shares of Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after acquiring an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA lifted its stake in Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after purchasing an additional 9,749,728 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Bank of America boosted their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 9,482 shares of company stock valued at $905,295. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $92.94 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The firm has a 50-day simple moving average of $93.79 and a 200-day simple moving average of $92.98. The company has a market capitalization of $165.14 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

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.