Massachusetts Financial Services Co. MA Raises Position in The Charles Schwab Co. (NYSE:SCHW)

Massachusetts Financial Services Co. MA increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,679,305 shares of the financial services provider’s stock after purchasing an additional 1,711,312 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Charles Schwab were worth $1,858,706,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Country Trust Bank purchased a new position in Charles Schwab during the second quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in Charles Schwab in the third quarter valued at $25,000. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the period. Fortitude Family Office LLC increased its stake in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. Finally, American Capital Advisory LLC purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $27,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Price Performance

SCHW opened at $80.46 on Thursday. The company has a market capitalization of $143.19 billion, a P/E ratio of 31.43, a PEG ratio of 1.74 and a beta of 0.96. The company has a 50-day moving average of $69.79 and a 200-day moving average of $69.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 1-year low of $55.42 and a 1-year high of $82.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.77 earnings per share. Equities analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

Analyst Ratings Changes

SCHW has been the subject of a number of research reports. Barclays boosted 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. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler boosted their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.18.

Insider Buying and Selling at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,929 shares of company stock worth $8,196,624 over the last 90 days. Insiders own 6.60% of the company’s stock.

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.