Kohmann Bosshard Financial Services LLC reduced its position in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 24.4% in the 3rd quarter, Holdings Channel reports. The firm owned 55,009 shares of the financial services provider’s stock after selling 17,748 shares during the period. Charles Schwab makes up 0.5% of Kohmann Bosshard Financial Services LLC’s holdings, making the stock its 28th biggest holding. Kohmann Bosshard Financial Services LLC’s holdings in Charles Schwab were worth $5,377,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Asset One Wealth Management LLC purchased a new position in Charles Schwab during the 3rd quarter worth $1,344,000. CenterBook Partners LP purchased a new stake in Charles Schwab in the 3rd quarter valued at approximately $2,637,000. First Citizens Bank & Trust Co. increased its position in Charles Schwab by 102.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 33,750 shares of the financial services provider’s stock worth $3,299,000 after purchasing an additional 17,068 shares during the period. Financial Advisory Partners LLC purchased a new position in shares of Charles Schwab during the 1st quarter worth approximately $3,199,000. Finally, Diversified Management Inc. raised its position in Charles Schwab by 404.1% in the third quarter. Diversified Management Inc. now owns 48,078 shares of the financial services provider’s stock worth $4,699,000 after acquiring an additional 38,541 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.
Charles Schwab News Roundup
Here are the key news stories impacting Charles Schwab this week:
- Positive Sentiment: Schwab lowered account minimums for clients seeking IPO shares, potentially making IPO access available to more customers and helping attract or retain brokerage accounts. Read More.
- Positive Sentiment: The company expanded Schwab Crypto trading to Solana, Avalanche and Chainlink, beyond Bitcoin and Ether. Broader product choice and competitive trading fees could attract customers and increase engagement, though the financial contribution is not yet clear. Read More.
- Neutral Sentiment: Schwab’s Trading Activity Index rose to 61.94 in October from 58.92 in September, indicating increased retail trading activity and more interest in individual stocks. This may support transaction activity, but the index alone does not show the effect on revenue. Read More.
- Negative Sentiment: Schwab cited accounting uncertainty around client cryptocurrency holdings, which could create financial-reporting and regulatory risks as its crypto business grows. Read More.
Insider Activity at Charles Schwab
In other Charles Schwab news, Chairman Walter W. Bettinger sold 176,210 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $113.49, for a total transaction of $19,998,072.90. Following the sale, the chairman owned 610,360 shares in the company, valued at approximately $69,269,756.40. The trade was a 22.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis Howard sold 2,198 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $110.00, for a total transaction of $241,780.00. Following the sale, the insider directly owned 6,980 shares of the company’s stock, valued at $767,800. This represents 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. Insiders sold 253,796 shares of company stock worth $28,601,556 in the last quarter. 6.30% of the stock is owned by company insiders.
Charles Schwab Price Performance
Shares of NYSE:SCHW opened at $92.78 on Tuesday. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53. The stock has a fifty day moving average of $98.16 and a 200-day moving average of $97.35. The company has a market capitalization of $160.45 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same period last year, the company posted $1.31 EPS. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 6.41 EPS for the current fiscal year.
Charles Schwab Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a $0.32 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. Charles Schwab’s dividend payout ratio (DPR) is 21.84%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on SCHW shares. Compass Point lifted their price target on shares of Charles Schwab from $135.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Bank of America upped their target price on shares of Charles Schwab from $91.00 to $95.00 and gave the company an “underperform” rating in a report on Monday, October 5th. Raymond James Financial reissued an “outperform” rating and issued a $145.00 price target (up from $137.00) on shares of Charles Schwab in a research note on Thursday, October 15th. Piper Sandler reduced their target price on Charles Schwab from $118.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $125.00 price objective on shares of Charles Schwab and gave the stock a “buy” rating in a research report on Friday, October 16th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.91.
View Our Latest Report on SCHW
Charles Schwab Profile
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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