Swedbank AB Acquires 6,796 Shares of The Charles Schwab Corporation $SCHW

Swedbank AB lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 761,816 shares of the financial services provider’s stock after acquiring an additional 6,796 shares during the period. Swedbank AB’s holdings in Charles Schwab were worth $72,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. boosted its holdings in shares of Charles Schwab by 2,112.7% during the 2nd quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock worth $16,587,000 after buying an additional 173,577 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Charles Schwab by 26.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after acquiring an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC bought a new position in Charles Schwab during the first quarter worth $79,605,000. Figure 8 Investment Strategies LLC acquired a new stake in Charles Schwab in the second quarter worth $924,000. Finally, PFG Investments LLC boosted its position in shares of Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the sale, the insider owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 3,205 shares of the company’s 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 completion of the transaction, the insider owned 34,778 shares of the company’s stock, 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. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SCHW. The Goldman Sachs Group restated a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Morgan Stanley upped their target price on shares of Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.84.

Charles Schwab Stock Up 0.5%

Shares of NYSE SCHW opened at $101.73 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $180.77 billion, a PE ratio of 23.82, a P/E/G ratio of 0.82 and a beta of 0.96. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $102.11. The business’s fifty day moving average price is $94.64 and its 200-day moving average price is $94.03.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. On average, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.