Swedbank AB Purchases 21,699 Shares of The Charles Schwab Co. (NYSE:SCHW)

Swedbank AB raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.7% in the third quarter, HoldingsChannel reports. The fund owned 605,261 shares of the financial services provider’s stock after acquiring an additional 21,699 shares during the period. Swedbank AB’s holdings in Charles Schwab were worth $39,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Price T Rowe Associates Inc. MD raised its position in shares of Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares in the last quarter. Darsana Capital Partners LP raised its position in shares of Charles Schwab by 200.0% in the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after buying an additional 2,000,000 shares in the last quarter. Mondrian Investment Partners LTD raised its position in shares of Charles Schwab by 28,736.1% in the first quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after buying an additional 1,480,485 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $105,563,000. Finally, Westwood Holdings Group Inc. raised its position in Charles Schwab by 231.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock valued at $108,433,000 after purchasing an additional 1,046,322 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday. Cowen boosted their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.59.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $72.08 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The stock has a market cap of $128.11 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 1.43 and a beta of 0.97. The company’s fifty day moving average is $64.61 and its 200 day moving average is $69.51.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Sell-side analysts forecast that The Charles Schwab Co. will post 3.06 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the sale, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,856 shares of company stock valued at $6,398,604. 6.60% of the stock is currently owned by insiders.

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.