XTX Topco Ltd Buys New Stake in The Charles Schwab Corporation $SCHW

XTX Topco Ltd purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent filing with the SEC. The fund purchased 41,488 shares of the financial services provider’s stock, valued at approximately $3,785,000.

Several other hedge funds have also bought and sold shares of the stock. Princeton Global Asset Management LLC purchased a new position in shares of Charles Schwab during the second quarter valued at about $25,000. RMG Wealth Management LLC purchased a new position in Charles Schwab during the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its stake in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab in the first quarter worth about $31,000. Finally, Activest Wealth Management boosted its position in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.2%

Shares of Charles Schwab stock opened at $90.73 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market cap of $161.22 billion, a P/E ratio of 21.25, a PEG ratio of 0.85 and a beta of 1.02. The firm’s 50 day moving average price is $93.84 and its 200-day moving average price is $92.90. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the firm earned $0.71 earnings per share. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,626 shares of company stock worth $1,500,095 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research analyst reports. Barclays upped their price objective on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Truist Financial lifted their price objective on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Morgan Stanley increased their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. TD Cowen boosted their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Charles Schwab Company 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.