15,628 The Charles Schwab Corporation $SCHW Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 401,156 shares of the financial services provider’s stock after buying an additional 15,628 shares during the period. Kestra Advisory Services LLC’s holdings in Charles Schwab were worth $39,209,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Flossbach Von Storch SE acquired a new stake in Charles Schwab during the second quarter worth approximately $987,930,000. Bank of New York Mellon Corp grew its position in shares of Charles Schwab by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after purchasing an additional 3,009,884 shares during the last quarter. Danske Bank A S acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $145,950,000. Assenagon Asset Management S.A. grew its position in shares of Charles Schwab by 67.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,923,270 shares of the financial services provider’s stock valued at $285,720,000 after purchasing an additional 1,179,312 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Charles Schwab by 63.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,786,512 shares of the financial services provider’s stock worth $261,876,000 after purchasing an additional 1,081,382 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

Shares of SCHW traded down $1.02 during mid-day trading on Friday, hitting $91.56. 7,577,884 shares of the company’s stock were exchanged, compared to its average volume of 8,741,089. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The stock’s 50-day simple moving average is $98.51 and its 200-day simple moving average is $97.39. The firm has a market cap of $158.33 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.77. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Charles Schwab’s dividend payout ratio is 21.84%.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 1,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $111.33, for a total transaction of $111,330.00. Following the completion of the sale, the insider owned 10,738 shares of the company’s stock, valued at $1,195,461.54. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 74,388 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $110.91, for a total transaction of $8,250,373.08. Following the sale, the chairman directly owned 610,360 shares of the company’s stock, valued at $67,695,027.60. This represents a 10.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 278,574 shares of company stock valued at $31,302,606. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SCHW. Argus lifted their price target on Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Wells Fargo & Company decreased their price objective on Charles Schwab from $105.00 to $103.00 and set an “equal weight” rating on the stock in a report on Friday, October 16th. Deutsche Bank Aktiengesellschaft set a $125.00 price objective on Charles Schwab and gave the stock a “buy” rating in a research report on Friday, October 16th. Rothschild & Co Redburn lifted their target price on Charles Schwab from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, September 21st. Finally, TD Cowen lifted their target price on Charles Schwab from $128.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $119.91.

About Charles Schwab

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.

Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.