LRI Investments LLC Grows Stock Position in The Charles Schwab Co. (NYSE:SCHW)

LRI Investments LLC boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,271 shares of the financial services provider’s stock after buying an additional 203 shares during the quarter. LRI Investments LLC’s holdings in Charles Schwab were worth $147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Drucker Wealth 3.0 LLC raised its holdings in shares of Charles Schwab by 1.9% in the third quarter. Drucker Wealth 3.0 LLC now owns 40,117 shares of the financial services provider’s stock worth $2,600,000 after buying an additional 742 shares during the period. SGL Investment Advisors Inc. purchased a new stake in Charles Schwab in the third quarter worth $2,465,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Charles Schwab by 11.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 865,919 shares of the financial services provider’s stock worth $56,120,000 after purchasing an additional 88,962 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Charles Schwab by 125.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,728 shares of the financial services provider’s stock valued at $1,343,000 after purchasing an additional 11,537 shares during the period. Finally, MML Investors Services LLC grew its holdings in shares of Charles Schwab by 11.9% in the third quarter. MML Investors Services LLC now owns 585,308 shares of the financial services provider’s stock worth $37,934,000 after purchasing an additional 62,035 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SCHW. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Piper Sandler lifted their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $78.81.

Charles Schwab Stock Up 1.0 %

Charles Schwab stock opened at $82.35 on Wednesday. The business has a fifty day moving average price of $74.41 and a 200-day moving average price of $70.16. The Charles Schwab Co. has a 1-year low of $59.67 and a 1-year high of $83.35. The stock has a market capitalization of $146.56 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for 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%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Equities research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s payout ratio is currently 39.06%.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab 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 sale, 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 have sold 127,968 shares of company stock valued at $9,419,271 over the last ninety days. 6.60% of the stock is currently owned by insiders.

About Charles Schwab

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.