The Charles Schwab Corporation $SCHW Shares Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 20.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 260,000 shares of the financial services provider’s stock after buying an additional 45,000 shares during the quarter. Charles Schwab comprises 1.1% of Pacific Heights Asset Management LLC’s holdings, making the stock its 21st largest position. Pacific Heights Asset Management LLC’s holdings in Charles Schwab were worth $24,822,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SCHW. Federated Hermes Inc. grew its holdings 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 purchasing an additional 173,577 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after purchasing an additional 40,275 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $924,000. PFG Investments LLC increased its holdings in shares of Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after buying an additional 550 shares during the last quarter. Finally, W.H. Cornerstone Investments Inc. acquired a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $246,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group increased their price objective on Charles Schwab from $119.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Wolfe Research set a $120.00 price target on Charles Schwab in a report on Monday, January 12th. Citizens Jmp raised their price objective on Charles Schwab from $110.00 to $120.00 and gave the stock a “market outperform” rating in a research report on Monday, January 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Finally, BMO Capital Markets assumed coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.45.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $102.01, for a total transaction of $204,020.00. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,216,265.23. This represents a 14.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $103.83 on Tuesday. The stock has a market capitalization of $184.50 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The business has a 50-day moving average of $97.32 and a 200 day moving average of $95.64. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $104.98.

Charles Schwab Dividend Announcement

The firm also recently disclosed 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 was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.0%. Charles Schwab’s payout ratio is 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.