CX Institutional Acquires 17,798 Shares of The Charles Schwab Corporation $SCHW

CX Institutional boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 13.7% in the third quarter, Holdings Channel.com reports. The fund owned 147,364 shares of the financial services provider’s stock after buying an additional 17,798 shares during the quarter. CX Institutional’s holdings in Charles Schwab were worth $14,069,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Charles Schwab during the second quarter worth $1,889,858,000. Brown Advisory Inc. grew its position in shares of Charles Schwab by 88.4% during the 2nd quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock worth $1,109,687,000 after buying an additional 5,708,208 shares during the period. Primecap Management Co. CA increased its stake in shares of Charles Schwab by 35.9% in the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock valued at $1,736,736,000 after acquiring an additional 5,032,728 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Charles Schwab by 28.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock valued at $1,293,978,000 after acquiring an additional 3,125,179 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Charles Schwab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after acquiring an additional 2,786,829 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Morgan Stanley increased their price target on Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Finally, TD Cowen lifted their price objective on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.63.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $103.56 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $184.02 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 0.73 and a beta of 0.94. The stock’s 50-day moving average is $95.93 and its 200-day moving average is $94.88. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $104.76.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter last year, the firm earned $0.71 EPS. Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.0%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.