UNIVEST FINANCIAL Corp decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 25.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,506 shares of the financial services provider’s stock after selling 24,536 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Charles Schwab were worth $7,184,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Flossbach Von Storch SE purchased a new position in shares of Charles Schwab during the second quarter valued at approximately $987,930,000. Bank of New York Mellon Corp lifted its stake in Charles Schwab by 22.9% in 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 acquiring an additional 3,009,884 shares during the period. Danske Bank A S purchased a new stake in Charles Schwab in the second quarter worth $145,950,000. Assenagon Asset Management S.A. boosted its holdings in Charles Schwab by 67.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,923,270 shares of the financial services provider’s stock valued at $285,720,000 after acquiring an additional 1,179,312 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Charles Schwab by 63.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,786,512 shares of the financial services provider’s stock valued at $261,876,000 after acquiring an additional 1,081,382 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.
Key Charles Schwab News
These are some of the SCHW news items that stood out recently:
- Positive Sentiment: Schwab is adding Solana, Avalanche and Chainlink trading for eligible retail clients alongside Bitcoin and Ethereum. Offering crypto through existing brokerage accounts may help attract and retain customers and broaden Schwab’s product range, though the coverage does not quantify the likely financial impact. What Is Charles Schwab Signaling By Adding Solana, Avalanche And Chainlink?
- Neutral Sentiment: One report cites an average analyst price target of $119.91. That is a sentiment indicator, not a new company operating result or a guarantee of future performance. The Charles Schwab Corporation Stock Has Average Target Price of $119.91
- Negative Sentiment: A consumer-finance article warns that cash held at Schwab and other brokerages may earn less than funds in alternative savings accounts. If customers move cash elsewhere, that could challenge retention and potentially affect a source of brokerage funding; the article does not estimate any impact on Schwab. Why You Should Think Twice About Keeping Cash Savings at Vanguard, Schwab, or Fidelity
Analysts Set New Price Targets
A number of research analysts have issued reports on SCHW shares. Bank of America boosted their price objective on shares of Charles Schwab from $91.00 to $95.00 and gave the company an “underperform” rating in a research report on Monday, October 5th. Truist Financial set a $115.00 target price on shares of Charles Schwab in a research report on Friday, October 16th. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research note on Friday, October 16th. Evercore set a $98.00 price target on shares of Charles Schwab in a research report on Wednesday, October 28th. Finally, UBS Group reduced their price target on shares of Charles Schwab from $113.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.91.
Read Our Latest Stock Analysis on SCHW
Insider Buying and Selling at Charles Schwab
In related news, insider Jonathan S. Beatty sold 1,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the transaction, the insider owned 10,738 shares in the company, valued at $1,195,461.54. The trade was a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 176,210 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $113.49, for a total transaction of $19,998,072.90. Following the sale, the chairman directly owned 610,360 shares in the company, valued at $69,269,756.40. This trade represents a 22.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 251,598 shares of company stock valued at $28,359,776 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.
Charles Schwab Stock Performance
Shares of SCHW opened at $92.69 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 0.53. The stock has a market cap of $159.99 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.83 and a beta of 0.77. The business’s 50 day moving average price is $97.51 and its 200-day moving average price is $97.24. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53.
Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.18 billion. Charles Schwab had a return on equity of 25.46% and a net margin of 39.33%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the company earned $1.31 EPS. Equities research analysts anticipate that The Charles Schwab Corporation will post 6.41 earnings per share for the current fiscal year.
Charles Schwab Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, November 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. Charles Schwab’s dividend payout ratio (DPR) is presently 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.
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