Dai ichi Life Insurance Company Ltd Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

Dai ichi Life Insurance Company Ltd lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 21.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 109,401 shares of the financial services provider’s stock after selling 29,024 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Charles Schwab were worth $7,090,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Patten & Patten Inc. TN raised its stake in Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 63,463 shares during the period. Equity Investment Corp raised its stake in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after acquiring an additional 140,643 shares during the period. Teewinot Capital Advisers L.L.C. raised its stake in Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after acquiring an additional 64,041 shares during the period. Iowa State Bank raised its stake in Charles Schwab by 37.9% during the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after acquiring an additional 7,829 shares during the period. Finally, Radnor Capital Management LLC bought a new stake in Charles Schwab during the 3rd quarter worth approximately $6,081,000. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,668 shares of company stock worth $9,230,648. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on SCHW. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Raymond James reduced their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Morgan Stanley raised their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Piper Sandler raised their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Two research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.18.

Charles Schwab Stock Up 0.6 %

NYSE:SCHW opened at $82.22 on Wednesday. The Charles Schwab Co. has a twelve month low of $55.59 and a twelve month high of $82.50. The company has a market cap of $146.32 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The stock has a fifty day simple moving average of $71.28 and a 200-day simple moving average of $69.85. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. Analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Announces Dividend

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

About Charles Schwab

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.