Machina Capital S.A.S. lifted its position in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 263.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,620 shares of the financial services provider’s stock after buying an additional 29,430 shares during the period. Machina Capital S.A.S.’s holdings in Charles Schwab were worth $3,970,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Illinois Municipal Retirement Fund grew its holdings in shares of Charles Schwab by 0.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 114,533 shares of the financial services provider’s stock worth $11,194,000 after purchasing an additional 730 shares during the period. Northbridge Financial Group LLC acquired a new position in Charles Schwab during the third quarter valued at approximately $260,000. Brooklyn FI LLC acquired a new position in Charles Schwab during the third quarter valued at approximately $286,000. AMG National Trust Bank lifted its position in Charles Schwab by 0.4% during the third quarter. AMG National Trust Bank now owns 64,171 shares of the financial services provider’s stock valued at $6,272,000 after buying an additional 265 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its stake in Charles Schwab by 0.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 134,184 shares of the financial services provider’s stock worth $13,115,000 after buying an additional 776 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.
Charles Schwab Trading Down 0.4%
NYSE SCHW opened at $92.69 on Thursday. The company’s fifty day simple moving average is $97.51 and its 200-day simple moving average is $97.24. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 0.53. The stock has a market cap of $159.99 billion, a P/E ratio of 15.18, a PEG ratio of 0.83 and a beta of 0.77.
Charles Schwab (NYSE:SCHW – Get Free Report) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share 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 the consensus estimate of $7.18 billion. Charles Schwab had a net margin of 39.33% and a return on equity of 25.46%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. Equities research analysts predict that The Charles Schwab Corporation will post 6.41 EPS for the current fiscal year.
Charles Schwab Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $0.32 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. Charles Schwab’s payout ratio is currently 21.84%.
Insiders Place Their Bets
In other Charles Schwab news, Chairman Walter Bettinger sold 176,210 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $113.49, for a total value of $19,998,072.90. Following the completion of the transaction, the chairman directly owned 610,360 shares of the company’s stock, valued at $69,269,756.40. This represents a 22.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Beatty sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 251,598 shares of company stock worth $28,359,776 in the last quarter. 6.30% of the stock is currently owned by company insiders.
Trending Headlines about Charles Schwab
These are some of the SCHW headlines that stood out recently:
- Positive Sentiment: Schwab is adding Solana, Avalanche and Chainlink trading for eligible retail clients alongside Bitcoin and Ethereum. Offering crypto through existing brokerage accounts may help attract and retain customers and broaden Schwab’s product range, though the coverage does not quantify the likely financial impact. What Is Charles Schwab Signaling By Adding Solana, Avalanche And Chainlink?
- Neutral Sentiment: One report cites an average analyst price target of $119.91. That is a sentiment indicator, not a new company operating result or a guarantee of future performance. The Charles Schwab Corporation Stock Has Average Target Price of $119.91
- Negative Sentiment: A consumer-finance article warns that cash held at Schwab and other brokerages may earn less than funds in alternative savings accounts. If customers move cash elsewhere, that could challenge retention and potentially affect a source of brokerage funding; the article does not estimate any impact on Schwab. Why You Should Think Twice About Keeping Cash Savings at Vanguard, Schwab, or Fidelity
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Compass Point increased their price objective on shares of Charles Schwab from $135.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Barclays reduced their target price on shares of Charles Schwab from $118.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Evercore set a $98.00 target price on shares of Charles Schwab in a report on Wednesday, October 28th. Weiss Ratings raised shares of Charles Schwab from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 10th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $120.00 price target on shares of Charles Schwab in a report on Friday, October 16th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.91.
Get Our Latest Stock Report on SCHW
Charles Schwab Company Profile
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.
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