Park Avenue Securities LLC increases its equity holding in The Charles Schwab Co. (NYSE: SCHW)
Park Avenue Securities LLC increased its holdings of The Charles Schwab Co. (NYSE: SCHW – Get Rating) stock by 36.2% in Q1, according to the company in its most recent filing with the Securities & Exchange Commission. The company held 6,939 shares of the financial services provider after purchasing an additional 1,844 shares during the period. Park Avenue Securities LLC’s holdings in Charles Schwab were worth $585,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently changed their holdings in SCHW. Norges Bank purchased a new stake in shares of Charles Schwab during the fourth quarter worth approximately $1,127,795,000. State Street Corp increased its holdings of Charles Schwab stock by 6.6% during the fourth quarter. State Street Corp now owns 69,667,441 shares of the financial services provider worth $5,859,032,000 after purchasing an additional 4,305,161 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Charles Schwab during the fourth quarter for a value of approximately $139,544,000. Brown Advisory Inc. increased its stake in Charles Schwab by 77.1% in the fourth quarter. Brown Advisory Inc. now owns 3,726,806 shares of the financial services provider worth $313,425,000 after purchasing an additional 1,622,110 shares during the period. Finally, DSM Capital Partners LLC increased its stake in Charles Schwab by 18.7% in the fourth quarter. DSM Capital Partners LLC now owns 7,092,911 shares of the financial services provider worth $596,514,000 after purchasing an additional 1,119,428 shares during the period. 87.13% of the shares are currently held by hedge funds and other institutional investors.
Analyst upgrades and downgrades
Several brokerages have commented on SCHW. Deutsche Bank Aktiengesellschaft raised its price target on Charles Schwab shares from $81.00 to $82.00 in a Tuesday, July 19 report. Jefferies Financial Group lowered its price target on shares of Charles Schwab to $95.00 in a Friday, April 22 report. Piper Sandler lowered her price target on Charles Schwab shares from $110.00 to $100.00 and set an “overweight” rating for the company in a Friday, April 22 report. Morgan Stanley lowered its price target on Charles Schwab shares from $123.00 to $98.00 and set an “overweight” rating for the company in a Wednesday, July 13 report. Finally, the Goldman Sachs group assumed coverage of Charles Schwab shares in a report on Tuesday, April 26. They issued a “neutral” rating and a price target of $75.00 for the company. Four investment analysts gave the stock a hold rating and twelve gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.58.
Insider buying and selling
In related news, CEO Walter W. Bettinger purchased 36,640 shares of the company in a transaction that took place on Monday, April 25. The shares were purchased at an average price of $69.49 per share, for a total transaction of $2,546,113.60. Following the completion of the acquisition, the CEO now owns 329,265 shares of the company, valued at approximately $22,880,624.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, CEO Walter W. Bettinger purchased 36,640 shares of the company in a transaction that took place on Monday, April 25. The shares were purchased at an average price of $69.49 per share, for a total transaction of $2,546,113.60. Following the completion of the acquisition, the CEO now owns 329,265 shares of the company, valued at approximately $22,880,624.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO Walter W. Bettinger purchased 4,341 shares of the company in a trade dated Wednesday, April 27. The shares were acquired at an average price of $68.55 per share, for a total transaction of $297,575.55. Following the purchase, the CEO now directly owns 359,714 shares of the company, valued at $24,658,394.70. Disclosure of this purchase can be found here. During the last quarter, insiders purchased 104,169 shares of the company worth $7,081,708. 7.50% of the shares are held by insiders.
Charles Schwab Price Performance
SCHW shares opened at $62.99 on Friday. The company has a market capitalization of $114.46 billion, a P/E ratio of 20.72, a price-to-earnings growth ratio of 0.77 and a beta of 1.10. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt ratio of 0.58. The company has a 50-day moving average of $64.17 and a 200-day moving average of $76.61. The Charles Schwab Co. has a 12-month low of $59.35 and a 12-month high of $96.24.
Charles Schwab (NYSE:SCHW – Get Rating) last reported quarterly results on Monday, July 18. The financial services provider reported earnings per share of $0.97 for the quarter, beating the consensus estimate of $0.91 by $0.06. Charles Schwab had a net margin of 33.09% and a return on equity of 15.86%. The company posted revenue of $5.09 billion in the quarter, versus a consensus estimate of $5.04 billion. In the same quarter last year, the company earned earnings per share of $0.70. The company’s quarterly revenue increased by 12.5% compared to the same quarter last year. As a group, equity research analysts expect The Charles Schwab Co. to post earnings per share of 3.88 for the current fiscal year.
Charles Schwab dividend announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 27. Investors of record on Friday, May 13 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a yield of 1.27%. The ex-dividend date was Thursday, May 12. Charles Schwab’s dividend payout ratio is currently 26.32%.
Charles Schwab Company Profile
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The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custodial and financial advisory services. The Company operates through two segments, Investor Services and Advisory Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, pension plan and other corporate brokerage services; equity compensation plan sponsors maintaining full-service records for equity plans, stock options, restricted stock, performance stock and stock appreciation rights; and clearing services for retail investors and mutual funds, as well as compliance solutions.
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