6,774 The Charles Schwab Corporation $SCHW Shares Purchased by Calamos Advisors LLC

Calamos Advisors LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 334,849 shares of the financial services provider’s stock after purchasing an additional 6,774 shares during the quarter. Calamos Advisors LLC’s holdings in Charles Schwab were worth $32,728,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SCHW. Compass Financial Management LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at about $27,000. Scarborough Advisors LLC acquired a new position in Charles Schwab during the first quarter worth about $29,000. Main Street Group LTD purchased a new stake in shares of Charles Schwab in the first quarter valued at about $33,000. Mascoma Wealth Management LLC lifted its holdings in shares of Charles Schwab by 71.6% in the third quarter. Mascoma Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 156 shares in the last quarter. Finally, GK Wealth Management LLC acquired a new stake in shares of Charles Schwab in the third quarter valued at approximately $41,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,778 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $109.01, for a total value of $2,701,049.78. Following the completion of the sale, the insider directly owned 57,972 shares in the company, valued at approximately $6,319,527.72. The trade was a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 176,210 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $113.49, for a total transaction of $19,998,072.90. Following the transaction, the chairman directly owned 610,360 shares of the company’s stock, valued at $69,269,756.40. This trade represents a 22.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 278,574 shares of company stock valued at $31,302,606. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SCHW shares. Wolfe Research restated an “outperform” rating and set a $127.00 price objective (up from $123.00) on shares of Charles Schwab in a research report on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a report on Friday, October 16th. Wells Fargo & Company dropped their price target on Charles Schwab from $105.00 to $103.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Rothschild & Co Redburn boosted their price target on Charles Schwab from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, September 21st. Finally, Barclays reduced their price objective on Charles Schwab from $118.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.91.

Charles Schwab Trading Down 1.1%

SCHW traded down $1.02 during trading on Friday, hitting $91.56. The company’s stock had a trading volume of 7,577,884 shares, compared to its average volume of 8,741,089. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $114.53. The stock has a market cap of $158.33 billion, a PE ratio of 15.62, a PEG ratio of 0.79 and a beta of 0.77. The firm’s 50 day moving average price is $98.51 and its 200-day moving average price is $97.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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 business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.18 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, analysts expect that The Charles Schwab Corporation will post 6.41 earnings per share for the current year.

Charles Schwab Announces Dividend

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 paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. Charles Schwab’s dividend payout ratio is currently 21.84%.

Charles Schwab Profile

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.