Investment House LLC Buys Shares of 11,500 The Charles Schwab Corporation $SCHW

Investment House LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,500 shares of the financial services provider’s stock, valued at approximately $1,049,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Charles Schwab during the 2nd quarter valued at about $1,889,858,000. Wellington Management Group LLP boosted its holdings in Charles Schwab by 595.7% in the first 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. Price T Rowe Associates Inc. MD grew its stake in shares of Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after acquiring an additional 8,954,248 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Charles Schwab by 88.4% during the second quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock valued at $1,109,687,000 after acquiring an additional 5,708,208 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of Charles Schwab by 35.9% in the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock valued at $1,736,736,000 after purchasing an additional 5,032,728 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction that occurred 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 of the company’s stock, valued at $1,168,454. The trade was a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of SCHW opened at $97.00 on Friday. The business’s 50-day moving average is $93.81 and its two-hundred day moving average is $93.34. The company has a market capitalization of $172.36 billion, a P/E ratio of 22.72, a P/E/G ratio of 0.85 and a beta of 0.96. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The company’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. Research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. UBS Group began coverage on shares of Charles Schwab in a report on Thursday. They set a “buy” rating and a $119.00 price objective on the stock. Bank of America upped their target price on Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Finally, Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.58.

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.