The Charles Schwab Corporation $SCHW Holdings Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,378,672 shares of the financial services provider’s stock after buying an additional 300,873 shares during the quarter. Charles Schwab accounts for about 0.5% of Thrivent Financial for Lutherans’ holdings, making the stock its 26th biggest position. Thrivent Financial for Lutherans’ holdings in Charles Schwab were worth $216,959,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of Charles Schwab by 2,112.7% in the second quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock valued at $16,587,000 after acquiring an additional 173,577 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after acquiring an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC acquired a new position in Charles Schwab during the 1st quarter valued at $79,605,000. Figure 8 Investment Strategies LLC bought a new stake in Charles Schwab in the 2nd quarter valued at $924,000. Finally, PFG Investments LLC grew its position in Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SCHW. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Barclays reduced their target price on Charles Schwab from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $108.37.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $96.63 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $93.86 and its 200 day simple moving average is $93.44. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a market capitalization of $171.71 billion, a PE ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. This trade represents a 20.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 6.30% of the company’s stock.

About Charles Schwab

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.