The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by LRI Investments LLC

LRI Investments LLC lifted its position in The Charles Schwab Co. (NYSE:SCHW) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,271 shares of the financial services provider’s stock after acquiring an additional 203 shares during the quarter. LRI Investments LLC’s holdings in Charles Schwab were worth $147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after purchasing an additional 493,264 shares during the period. Legal & General Group Plc increased its stake in shares of Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Charles Schwab by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,142,602 shares of the financial services provider’s stock worth $592,532,000 after purchasing an additional 331,846 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SCHW shares. Piper Sandler boosted their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Citigroup dropped their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Cowen raised their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $78.81.

Charles Schwab Price Performance

SCHW stock opened at $82.35 on Wednesday. The Charles Schwab Co. has a 52-week low of $59.67 and a 52-week high of $83.35. The business has a fifty day moving average of $74.41 and a two-hundred day moving average of $70.16. The stock has a market cap of $146.56 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. As a group, research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab’s payout ratio is currently 39.06%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,968 shares of company stock worth $9,419,271. Insiders own 6.60% of the company’s stock.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.