Retirement Planning Group LLC Raises Stock Holdings in The Charles Schwab Corporation $SCHW

Retirement Planning Group LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 70.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,679 shares of the financial services provider’s stock after acquiring an additional 6,899 shares during the period. Retirement Planning Group LLC’s holdings in Charles Schwab were worth $1,592,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SCHW. Vanguard Group Inc. lifted its position in Charles Schwab by 1.9% during the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after purchasing an additional 2,786,829 shares during the period. State Street Corp raised its stake in Charles Schwab by 0.7% during the 2nd quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock valued at $6,611,672,000 after buying an additional 531,329 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after buying an additional 1,038,376 shares during the period. Franklin Resources Inc. boosted its stake in shares of Charles Schwab by 2.8% in the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock worth $2,740,479,000 after buying an additional 815,625 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Charles Schwab by 1.0% in the second quarter. Fisher Asset Management LLC now owns 21,376,690 shares of the financial services provider’s stock worth $1,950,409,000 after acquiring an additional 211,527 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 0.7%

Charles Schwab stock opened at $101.88 on Thursday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $104.76. The firm has a market capitalization of $181.03 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 0.70 and a beta of 0.94. The firm has a 50 day moving average of $96.81 and a 200 day moving average of $95.35. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted 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 business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 25.29%.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SCHW. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Wednesday. Wolfe Research set a $120.00 price target on shares of Charles Schwab in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Citizens Jmp boosted their target price on shares of Charles Schwab from $110.00 to $120.00 and gave the company a “market outperform” rating in a research report on Monday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $114.00 target price on shares of Charles Schwab in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.24.

Charles Schwab Profile

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.