Plato Investment Management Ltd Buys New Shares in The Charles Schwab Corporation $SCHW

Plato Investment Management Ltd purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, Holdings Channel reports. The firm purchased 65,701 shares of the financial services provider’s stock, valued at approximately $6,027,000.

A number of other large investors also recently bought and sold shares of SCHW. Dogwood Wealth Management LLC boosted its holdings in shares of Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Charles Schwab in the 1st quarter worth $29,000. McIlrath & Eck LLC raised its position in shares of Charles Schwab by 143.2% in the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after buying an additional 189 shares during the period. Main Street Group LTD acquired a new position in Charles Schwab in the first quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Charles Schwab by 233.6% in the third quarter. Newbridge Financial Services Group Inc. now owns 357 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SCHW. Piper Sandler set a $118.00 price target on Charles Schwab in a research report on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. TD Cowen raised their price target on shares of Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Argus lifted their price target on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.17.

Charles Schwab Stock Down 0.1%

NYSE SCHW opened at $111.03 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $111.18. The business has a 50 day moving average price of $99.40 and a two-hundred day moving average price of $95.84. The stock has a market cap of $192.01 billion, a PE ratio of 20.19, a P/E/G ratio of 0.85 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.2%. Charles Schwab’s payout ratio is 23.27%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 5,263 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $107.15, for a total value of $563,930.45. Following the completion of the transaction, the director directly owned 91,711 shares of the company’s stock, valued at $9,826,833.65. This represents a 5.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 192,488 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $103.90, for a total value of $19,999,503.20. Following the sale, the chairman owned 529,346 shares of the company’s stock, valued at $54,999,049.40. This represents a 26.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 395,786 shares of company stock worth $41,346,459 over the last three months. Insiders own 6.30% of the company’s stock.

Charles Schwab Company 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.