The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,021,612 shares of the financial services provider’s stock after purchasing an additional 1,564 shares during the quarter. Charles Schwab comprises about 1.2% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 24th biggest position. Clarkston Capital Partners LLC’s holdings in Charles Schwab were worth $66,211,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Country Trust Bank acquired a new position in shares of Charles Schwab in the 2nd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in Charles Schwab during the third quarter worth $25,000. Washington Trust Advisors Inc. boosted its position in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the period. Fortitude Family Office LLC grew its stake in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at $27,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In other news, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,645 shares of company stock valued at $7,440,627. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Trading Up 0.6 %

Shares of Charles Schwab stock opened at $80.64 on Monday. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $68.74 and a 200-day simple moving average of $69.59. The stock has a market cap of $143.51 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.76 and a beta of 0.96. The Charles Schwab Co. has a 12-month low of $55.09 and a 12-month high of $82.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Charles Schwab’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts forecast that The Charles Schwab Co. will post 3.12 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 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SCHW shares. Piper Sandler raised their target price on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Citigroup dropped their price objective on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Barclays increased their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Cowen lifted their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.18.

Charles Schwab 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.