The Charles Schwab Corporation $SCHW Shares Acquired by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 35.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,273 shares of the financial services provider’s stock after acquiring an additional 7,961 shares during the quarter. Charles Schwab makes up about 1.0% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 5th biggest position. Lecap Asset Management Ltd.’s holdings in Charles Schwab were worth $2,890,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab in the 2nd quarter valued at $25,000. RMG Wealth Management LLC acquired a new position in Charles Schwab in the 2nd quarter worth about $27,000. West Branch Capital LLC acquired a new position in Charles Schwab in the 3rd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. bought a new position in Charles Schwab in the second quarter valued at about $32,000. Finally, Hoese & Co LLP boosted its stake in shares of Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SCHW. UBS Group upped their price objective on Charles Schwab from $119.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. 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 report on Monday, October 20th. Finally, Truist Financial upped their price target on Charles Schwab from $113.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $110.80.

Insiders Place Their Bets

In other Charles Schwab news, 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 transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 1.6%

Shares of NYSE:SCHW opened at $101.90 on Thursday. The firm has a market cap of $181.06 billion, a P/E ratio of 23.86, a PEG ratio of 0.72 and a beta of 0.94. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $104.76. The business’s 50 day simple moving average is $96.08 and its two-hundred day simple moving average is $94.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58.

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

Charles Schwab Dividend Announcement

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

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.