Aljian Capital Management LLC Takes $315,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Aljian Capital Management LLC acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,866 shares of the financial services provider’s stock, valued at approximately $315,000.

Other institutional investors also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC raised its stake in shares of Charles Schwab by 26.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 6,245 shares of the financial services provider’s stock worth $452,000 after acquiring an additional 1,302 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Charles Schwab by 26.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 83,207 shares of the financial services provider’s stock valued at $6,019,000 after purchasing an additional 17,433 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Charles Schwab by 7.2% in the 1st quarter. Bessemer Group Inc. now owns 365,888 shares of the financial services provider’s stock worth $26,468,000 after purchasing an additional 24,431 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in Charles Schwab by 28.7% during the 1st quarter. Lake Street Advisors Group LLC now owns 13,187 shares of the financial services provider’s stock worth $954,000 after buying an additional 2,942 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Charles Schwab during the 1st quarter valued at about $105,563,000. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SCHW. JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Piper Sandler upped their target price on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Bank of America decreased their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.18.

Charles Schwab Price Performance

SCHW stock opened at $80.64 on Monday. The Charles Schwab Co. has a twelve month low of $55.09 and a twelve month high of $82.50. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $143.51 billion, a P/E ratio of 31.50, a PEG ratio of 1.76 and a beta of 0.96. The business has a 50 day simple moving average of $68.74 and a 200-day simple moving average of $69.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 5.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,645 shares of company stock valued at $7,440,627 over the last quarter. Company insiders own 6.60% of the company’s stock.

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.