Park Avenue Securities LLC Increases Holdings in The Charles Schwab Corporation $SCHW

Park Avenue Securities LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 30.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,734 shares of the financial services provider’s stock after purchasing an additional 12,218 shares during the quarter. Park Avenue Securities LLC’s holdings in Charles Schwab were worth $4,939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. grew its position in Charles Schwab by 2,112.7% during the 2nd quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock worth $16,587,000 after purchasing an additional 173,577 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Charles Schwab by 26.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after buying an additional 40,275 shares during the last quarter. Figure 8 Investment Strategies LLC acquired a new stake in Charles Schwab during the second quarter worth about $924,000. PFG Investments LLC raised its position in Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 550 shares in the last quarter. Finally, W.H. Cornerstone Investments Inc. acquired a new position in Charles Schwab in the second quarter valued at approximately $246,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 11,923 shares in the company, valued at $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

SCHW opened at $101.35 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a market cap of $180.10 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 0.71 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 firm’s fifty day simple moving average is $96.22 and its two-hundred day simple moving average is $94.98.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping 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 analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SCHW shares. Barclays upped their price objective on Charles Schwab from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Morgan Stanley raised their price target on shares of Charles Schwab from $139.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Raymond James Financial restated an “outperform” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Monday. One equities research 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 stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

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.