The Charles Schwab Corporation $SCHW Stock: Candriam S.C.A. Trims Position

Candriam S.C.A. cut its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 20.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 652,046 shares of the financial services provider’s stock after selling 169,781 shares during the period. Candriam S.C.A.’s holdings in Charles Schwab were worth $63,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in SCHW. Flossbach Von Storch SE bought a new stake in shares of Charles Schwab in the second quarter valued at about $987,930,000. Bank of New York Mellon Corp grew its holdings in Charles Schwab by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after acquiring an additional 3,009,884 shares in the last quarter. Danske Bank A S bought a new position in Charles Schwab during the 2nd quarter worth about $145,950,000. Assenagon Asset Management S.A. increased its position in Charles Schwab by 67.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,923,270 shares of the financial services provider’s stock valued at $285,720,000 after purchasing an additional 1,179,312 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Charles Schwab by 63.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,786,512 shares of the financial services provider’s stock valued at $261,876,000 after purchasing an additional 1,081,382 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SCHW shares. The Goldman Sachs Group restated a “buy” rating and issued a $117.00 price target (down from $122.00) on shares of Charles Schwab in a report on Friday, October 16th. Morgan Stanley dropped their price objective on shares of Charles Schwab from $141.00 to $132.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Piper Sandler cut their price objective on shares of Charles Schwab from $118.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Bank of America boosted their price objective on shares of Charles Schwab from $91.00 to $95.00 and gave the stock an “underperform” rating in a research note on Monday, October 5th. Finally, Citigroup restated a “market outperform” rating on shares of Charles Schwab in a report on Friday, October 16th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and an average price target of $119.91.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $91.56 on Friday. The company has a market capitalization of $158.33 billion, a PE ratio of 15.62, a P/E/G ratio of 0.81 and a beta of 0.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50-day simple moving average of $98.51 and a two-hundred day simple moving average of $97.39. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. Charles Schwab had a net margin of 39.33% and a return on equity of 25.79%. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.18 billion. During the same period last year, the business earned $1.31 EPS. The company’s revenue was up 16.9% compared to the same quarter last year. Research analysts expect that The Charles Schwab Corporation will post 6.41 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Charles Schwab’s payout ratio is currently 21.84%.

Insider Activity

In other news, insider Dennis Howard sold 2,198 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total transaction of $241,780.00. Following the completion of the sale, the insider owned 6,980 shares in the company, valued at approximately $767,800. This represents a 23.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nigel Murtagh sold 24,778 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $109.01, for a total value of $2,701,049.78. Following the transaction, the insider owned 57,972 shares in the company, valued at approximately $6,319,527.72. This trade represents a 29.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 278,574 shares of company stock valued at $31,302,606 over the last three months. Company insiders own 6.30% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.

Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.