Sumitomo Life Insurance Co. Acquires 396 Shares of The Charles Schwab Co. (NYSE:SCHW)

Sumitomo Life Insurance Co. raised its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,666 shares of the financial services provider’s stock after buying an additional 396 shares during the period. Sumitomo Life Insurance Co.’s holdings in Charles Schwab were worth $951,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. M&G Plc acquired a new stake in Charles Schwab during the 1st quarter valued at $11,452,000. Teewinot Capital Advisers L.L.C. lifted its stake in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after buying an additional 64,041 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Charles Schwab by 10.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after buying an additional 17,925 shares during the period. Wedmont Private Capital grew its stake in Charles Schwab by 12.2% in the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after buying an additional 1,430 shares during the last quarter. Finally, Iowa State Bank raised its holdings in Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after acquiring an additional 7,829 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,856 shares of company stock valued at $6,398,604 in the last ninety days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $72.08 on Thursday. The firm has a 50 day simple moving average of $64.61 and a 200 day simple moving average of $69.51. The company has a market cap of $128.11 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 1.43 and a beta of 0.97. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. Research analysts predict that The Charles Schwab Co. will post 3.06 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, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.39%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. Jefferies Financial Group decreased their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Cowen increased their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday. Piper Sandler boosted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday. Barclays raised their price target on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Citigroup cut their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.59.

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.