The Charles Schwab Co. (NYSE:SCHW) Stake Raised by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 245,871 shares of the financial services provider’s stock after buying an additional 16,538 shares during the period. CIBC Asset Management Inc’s holdings in Charles Schwab were worth $15,935,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SCHW. Price T Rowe Associates Inc. MD grew its position in Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the last quarter. Darsana Capital Partners LP lifted its holdings in shares of Charles Schwab by 200.0% during the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after acquiring an additional 2,000,000 shares during the period. AustralianSuper Pty Ltd boosted its position in Charles Schwab by 2,617.6% in the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after buying an additional 1,644,931 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Charles Schwab in the 1st quarter worth approximately $105,563,000. Finally, Westwood Holdings Group Inc. grew its position in Charles Schwab by 231.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock worth $108,433,000 after acquiring an additional 1,046,322 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,645 shares of company stock valued at $7,440,627 in the last quarter. 6.60% of the stock is currently owned by insiders.

Charles Schwab Trading Up 0.6 %

Shares of NYSE:SCHW opened at $80.64 on Friday. The company’s fifty day simple moving average is $68.38 and its 200 day simple moving average is $69.62. The Charles Schwab Co. has a 12 month low of $55.09 and a 12 month high of $82.50. The firm has a market cap of $143.51 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.71 and a beta of 0.96. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. As a group, research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. Charles Schwab’s payout ratio is 39.06%.

Wall Street Analyst Weigh In

Several analysts have recently commented on SCHW shares. Barclays increased their target price on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Raymond James dropped their price objective on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Citigroup reduced their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Finally, Cowen boosted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.