Pacer Advisors Inc. lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,337 shares of the financial services provider’s stock after acquiring an additional 2,854 shares during the quarter. Pacer Advisors Inc.’s holdings in The Charles Schwab were worth $1,327,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. WealthTrust Arizona LLC boosted its stake in The Charles Schwab by 1.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 29 shares during the period. Shine Investment Advisory Services Inc. bought a new stake in shares of The Charles Schwab in the 2nd quarter worth approximately $145,000. Fiduciary Trust Co. bought a new stake in shares of The Charles Schwab in the 2nd quarter worth approximately $163,000. Quadrant Capital Group LLC lifted its position in shares of The Charles Schwab by 31.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 1,082 shares during the period. Finally, Founders Capital Management lifted its position in shares of The Charles Schwab by 7.7% in the 2nd quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 300 shares during the period. Institutional investors own 79.84% of the company’s stock.
In other The Charles Schwab news, insider Walter W. Bettinger purchased 72,510 shares of the stock in a transaction on Tuesday, November 7th. The shares were purchased at an average price of $27.21 per share, with a total value of $1,972,997.10. Following the completion of the transaction, the insider now directly owns 41,330 shares in the company, valued at $1,124,589.30. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Peter B. Crawford sold 12,459 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $51.58, for a total value of $642,635.22. Following the transaction, the chief financial officer now directly owns 7,652 shares in the company, valued at approximately $394,690.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,778,324 shares of company stock worth $82,710,964. 12.00% of the stock is owned by company insiders.
A number of equities research analysts recently weighed in on SCHW shares. Credit Suisse Group initiated coverage on The Charles Schwab in a report on Thursday, November 30th. They set an “outperform” rating and a $55.00 price target for the company. Deutsche Bank lifted their target price on The Charles Schwab from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. BidaskClub lowered The Charles Schwab from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. Barclays raised their price target on The Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Finally, Morgan Stanley raised their price target on The Charles Schwab from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $47.56.
The Charles Schwab Corporation (SCHW) traded up $0.54 on Thursday, hitting $51.08. The company’s stock had a trading volume of 5,449,806 shares, compared to its average volume of 7,074,000. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a market cap of $68,074.45, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 2.16 and a beta of 1.74. The Charles Schwab Corporation has a 1 year low of $37.16 and a 1 year high of $51.89.
The Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. The Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The Charles Schwab’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. research analysts expect that The Charles Schwab Corporation will post 1.62 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, November 9th. The Charles Schwab’s dividend payout ratio is currently 20.51%.
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About The Charles Schwab
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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