Parnassus Investments LLC Purchases 48,927 Shares of The Charles Schwab Corporation $SCHW

Parnassus Investments LLC raised its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.7% in the third quarter, Holdings Channel reports. The firm owned 1,355,531 shares of the financial services provider’s stock after acquiring an additional 48,927 shares during the quarter. Parnassus Investments LLC’s holdings in Charles Schwab were worth $129,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SCHW. Princeton Global Asset Management LLC bought a new position in Charles Schwab in the 2nd quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab in the 2nd quarter worth $27,000. West Branch Capital LLC purchased a new position in shares of Charles Schwab during the third quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the period. Finally, Hoese & Co LLP grew its stake in Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft upped 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. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. UBS Group boosted their price objective on shares of Charles Schwab from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays raised their target price on shares of Charles Schwab from $111.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $111.25.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 1.1%

Shares of Charles Schwab stock opened at $100.19 on Friday. The stock has a market cap of $178.03 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94. The firm has a fifty day moving average price of $96.33 and a 200 day moving average price of $95.06. 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 Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $104.76.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue was up 26.6% on a year-over-year basis. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Charles Schwab 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.