The Charles Schwab Corporation $SCHW Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC raised its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,156 shares of the financial services provider’s stock after purchasing an additional 15,628 shares during the period. Kestra Advisory Services LLC’s holdings in Charles Schwab were worth $39,209,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Charles Schwab by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after purchasing an additional 3,009,884 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Charles Schwab by 3.5% in the 1st quarter. Bank of America Corp DE now owns 15,623,030 shares of the financial services provider’s stock valued at $1,468,252,000 after purchasing an additional 530,191 shares during the last quarter. Flossbach Von Storch SE bought a new position in shares of Charles Schwab in the 2nd quarter valued at $987,930,000. Dimensional Fund Advisors LP increased its stake in shares of Charles Schwab by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,742,934 shares of the financial services provider’s stock valued at $539,705,000 after purchasing an additional 60,979 shares during the last quarter. Finally, Provident Trust Co. raised its holdings in shares of Charles Schwab by 0.4% during the 2nd quarter. Provident Trust Co. now owns 3,716,441 shares of the financial services provider’s stock worth $342,916,000 after buying an additional 13,616 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Trading Down 1.1%

NYSE:SCHW traded down $1.02 during trading hours on Friday, hitting $91.56. 7,577,884 shares of the company were exchanged, compared to its average volume of 8,741,089. The stock has a market capitalization of $158.33 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.79 and a beta of 0.77. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53. The company has a fifty day simple moving average of $98.51 and a 200 day simple moving average of $97.39.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.18 billion. During the same quarter in the previous year, the company posted $1.31 EPS. The business’s revenue was up 16.9% on a year-over-year basis. Sell-side analysts expect that The Charles Schwab Corporation will post 6.41 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Charles Schwab’s dividend payout ratio (DPR) is 21.84%.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,778 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $109.01, for a total transaction of $2,701,049.78. Following the completion of the sale, the insider owned 57,972 shares of the company’s stock, valued at approximately $6,319,527.72. This represents a 29.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dennis Howard sold 2,198 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $110.00, for a total transaction of $241,780.00. Following the sale, the insider directly owned 6,980 shares of the company’s stock, valued at $767,800. This represents a 23.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 278,574 shares of company stock valued at $31,302,606 in the last ninety days. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Charles Schwab from $150.00 to $147.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Rothschild & Co Redburn raised their price objective on Charles Schwab from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. Compass Point lifted their target price on Charles Schwab from $135.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Jefferies Financial Group set a $120.00 target price on Charles Schwab in a research note on Friday, October 16th. Finally, Wells Fargo & Company lowered their target price on Charles Schwab from $105.00 to $103.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.91.

About Charles Schwab

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.

Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.