The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Swedbank AB

Swedbank AB increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.7% during the third quarter, Holdings Channel reports. The institutional investor owned 605,261 shares of the financial services provider’s stock after acquiring 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 reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the period. Legal & General Group Plc grew its holdings in Charles Schwab by 2.1% in the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after purchasing an additional 225,397 shares during the last quarter. Allen Investment Management LLC increased its position in shares of Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after buying an additional 251,485 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Charles Schwab by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,893,522 shares of the financial services provider’s stock worth $511,579,000 after buying an additional 66,022 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after buying an additional 38,201 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.6 %

Shares of SCHW opened at $81.77 on Tuesday. The Charles Schwab Co. has a fifty-two week low of $55.59 and a fifty-two week high of $82.50. The company’s fifty day moving average is $70.91 and its two-hundred day moving average is $69.81. The firm has a market cap of $145.52 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Insider Buying and Selling

In related news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,929 shares of company stock valued at $8,196,624. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SCHW. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Raymond James reduced their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $74.18.

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.