Fishman Jay A Ltd. MI boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 9.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 146,212 shares of the financial services provider’s stock after purchasing an additional 12,925 shares during the quarter. Charles Schwab accounts for about 1.2% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 20th biggest position. Fishman Jay A Ltd. MI’s holdings in Charles Schwab were worth $14,291,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SCHW. Bank of New York Mellon Corp raised its holdings in shares of Charles Schwab by 22.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after purchasing an additional 3,009,884 shares in the last quarter. Bank of America Corp DE grew its position in Charles Schwab by 3.5% in the first quarter. Bank of America Corp DE now owns 15,623,030 shares of the financial services provider’s stock worth $1,468,252,000 after buying an additional 530,191 shares during the last quarter. Flossbach Von Storch SE acquired a new position in Charles Schwab in the second quarter worth approximately $987,930,000. Dimensional Fund Advisors LP increased its holdings in shares of Charles Schwab by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,742,934 shares of the financial services provider’s stock valued at $539,705,000 after buying an additional 60,979 shares in the last quarter. Finally, Provident Trust Co. increased its holdings in shares of Charles Schwab by 0.4% in the second quarter. Provident Trust Co. now owns 3,716,441 shares of the financial services provider’s stock valued at $342,916,000 after buying an additional 13,616 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Chairman Walter Bettinger sold 74,388 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $110.91, for a total transaction of $8,250,373.08. Following the transaction, the chairman owned 610,360 shares of the company’s stock, valued at approximately $67,695,027.60. This represents a 10.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dennis Howard sold 2,198 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $110.00, for a total value of $241,780.00. Following the completion of the transaction, the insider directly owned 6,980 shares in the company, valued at $767,800. The trade was a 23.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 285,734 shares of company stock valued at $32,073,309. 6.30% of the stock is owned by corporate insiders.
Charles Schwab Stock Performance
Charles Schwab stock opened at $89.28 on Wednesday. The firm’s fifty day simple moving average is $101.83 and its 200-day simple moving average is $97.85. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $114.53.
Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.18 billion. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share. On average, research analysts predict that The Charles Schwab Corporation will post 6.41 earnings per share for the current fiscal year.
Charles Schwab Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, November 13th.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Compass Point raised their target price on shares of Charles Schwab from $135.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Bank of America boosted their target price on shares of Charles Schwab from $91.00 to $95.00 and gave the company an “underperform” rating in a research note on Monday, October 5th. BMO Capital Markets reduced their target price on Charles Schwab from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Monday, October 19th. Deutsche Bank Aktiengesellschaft set a $125.00 target price on Charles Schwab and gave the stock a “buy” rating in a research report on Friday, October 16th. Finally, TD Cowen increased their price objective on Charles Schwab from $128.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.18.
Get Our Latest Research Report on SCHW
Charles Schwab Company Profile
The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.
The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.
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