Ethic Inc. boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 213,967 shares of the financial services provider’s stock after buying an additional 9,628 shares during the quarter. Ethic Inc.’s holdings in Charles Schwab were worth $20,913,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in SCHW. Compass Financial Management LLC bought a new position in shares of Charles Schwab during the second quarter worth about $27,000. Scarborough Advisors LLC acquired a new position in shares of Charles Schwab in the first quarter worth approximately $29,000. Main Street Group LTD acquired a new position in shares of Charles Schwab in the first quarter worth approximately $33,000. Mascoma Wealth Management LLC lifted its stake in shares of Charles Schwab by 71.6% in the third quarter. Mascoma Wealth Management LLC now owns 374 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 156 shares during the period. Finally, J.Safra Asset Management Corp bought a new stake in Charles Schwab in the second quarter valued at approximately $39,000. Institutional investors own 84.38% of the company’s stock.
Charles Schwab Stock Performance
Shares of Charles Schwab stock opened at $91.56 on Friday. The business has a 50-day moving average price of $98.51 and a two-hundred day moving average price of $97.39. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $114.53. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The company has a market cap of $158.33 billion, a P/E ratio of 15.62, a PEG ratio of 0.81 and a beta of 0.77.
Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 EPS. As a group, analysts anticipate that The Charles Schwab Corporation will post 6.41 EPS for the current year.
Charles Schwab Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.28 annualized dividend and a yield of 1.4%. Charles Schwab’s dividend payout ratio (DPR) is currently 21.84%.
Insiders Place Their Bets
In other Charles Schwab news, insider Nigel Murtagh sold 24,778 shares of Charles Schwab stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $109.01, for a total value of $2,701,049.78. Following the completion of the sale, the insider directly owned 57,972 shares in the company, valued at approximately $6,319,527.72. The trade was a 29.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dennis Howard sold 2,198 shares of the business’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 approximately $767,800. This trade represents a 23.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 278,574 shares of company stock valued at $31,302,606. Company insiders own 6.30% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Citizens Jmp reissued a “market outperform” rating and set a $120.00 target price on shares of Charles Schwab in a research report on Friday, October 16th. Citigroup restated a “market outperform” rating on shares of Charles Schwab in a report on Friday, October 16th. Bank of America boosted their price target on shares of Charles Schwab from $91.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, October 5th. Wells Fargo & Company dropped their price target on shares of Charles Schwab from $105.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Finally, Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.91.
Read Our Latest Analysis on Charles Schwab
About Charles Schwab
The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.
Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.
Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.
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