Swedbank AB Buys 21,699 Shares of The Charles Schwab Co. (NYSE:SCHW)

Swedbank AB lifted its stake in The Charles Schwab Co. (NYSE:SCHW) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 605,261 shares of the financial services provider’s stock after purchasing an additional 21,699 shares during the period. Swedbank AB’s holdings in Charles Schwab were worth $39,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Birch Capital Management LLC boosted its position in shares of Charles Schwab by 3.7% in the 3rd quarter. Birch Capital Management LLC now owns 76,459 shares of the financial services provider’s stock worth $4,955,000 after purchasing an additional 2,761 shares during the last quarter. Creative Planning boosted its position in shares of Charles Schwab by 18.3% in the 3rd quarter. Creative Planning now owns 511,376 shares of the financial services provider’s stock worth $31,891,000 after purchasing an additional 79,166 shares during the last quarter. Harrington Investments INC raised its stake in Charles Schwab by 3.6% during the 3rd quarter. Harrington Investments INC now owns 56,527 shares of the financial services provider’s stock worth $3,664,000 after buying an additional 1,940 shares during the period. Novare Capital Management LLC raised its stake in Charles Schwab by 17.2% during the 3rd quarter. Novare Capital Management LLC now owns 13,524 shares of the financial services provider’s stock worth $876,000 after buying an additional 1,986 shares during the period. Finally, Stablepoint Partners LLC raised its stake in Charles Schwab by 5.3% during the 3rd quarter. Stablepoint Partners LLC now owns 12,345 shares of the financial services provider’s stock worth $800,000 after buying an additional 624 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the sale, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,856 shares of company stock worth $6,398,604. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SCHW. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday. 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. UBS Group dropped their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Raymond James dropped their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.59.

Charles Schwab Price Performance

NYSE:SCHW opened at $72.08 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock’s 50-day simple moving average is $64.61 and its 200 day simple moving average is $69.51. The company has a market cap of $128.11 billion, a P/E ratio of 30.16, a P/E/G ratio of 1.43 and a beta of 0.97. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

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.