The Charles Schwab Corporation $SCHW Shares Sold by Candriam S.C.A.

Candriam S.C.A. trimmed its position in The Charles Schwab Corporation (NYSE:SCHW) by 20.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 652,046 shares of the financial services provider’s stock after selling 169,781 shares during the period. Candriam S.C.A.’s holdings in Charles Schwab were worth $63,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ethic Inc. grew its stake in Charles Schwab by 4.7% during the 3rd quarter. Ethic Inc. now owns 213,967 shares of the financial services provider’s stock valued at $20,913,000 after purchasing an additional 9,628 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in shares of Charles Schwab by 3.2% in the third quarter. 180 Wealth Advisors LLC now owns 46,148 shares of the financial services provider’s stock worth $4,511,000 after purchasing an additional 1,450 shares during the last quarter. StoneX Group Inc. raised its stake in shares of Charles Schwab by 10.6% in the third quarter. StoneX Group Inc. now owns 11,162 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 1,071 shares during the last quarter. Leelyn Smith LLC lifted its holdings in shares of Charles Schwab by 2.3% during the third quarter. Leelyn Smith LLC now owns 54,641 shares of the financial services provider’s stock worth $5,341,000 after purchasing an additional 1,216 shares during the period. Finally, Verus Capital Partners LLC acquired a new stake in shares of Charles Schwab during the third quarter worth about $209,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.1%

Charles Schwab stock opened at $91.56 on Friday. The business’s 50-day moving average price is $98.51 and its 200 day moving average price is $97.39. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The firm has a market cap of $158.33 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.81 and a beta of 0.77. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share (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 company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.18 billion. During the same period in the previous year, the company posted $1.31 earnings per share. Charles Schwab’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 6.41 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Charles Schwab’s payout ratio is currently 21.84%.

Insider Activity

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,778 shares of Charles Schwab stock in a transaction 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 transaction, the insider owned 57,972 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 1,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $111.33, for a total transaction of $111,330.00. Following the completion of the transaction, the insider owned 10,738 shares of the company’s stock, valued at approximately $1,195,461.54. This trade represents a 8.52% 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. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SCHW has been the topic of several research reports. Barclays cut their price target on shares of Charles Schwab from $118.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Piper Sandler decreased their price objective on shares of Charles Schwab from $118.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Morgan Stanley dropped their price objective on shares of Charles Schwab from $141.00 to $132.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $117.00 price objective (down from $122.00) on shares of Charles Schwab in a research note on Friday, October 16th. Finally, Rothschild & Co Redburn raised their target price on shares of Charles Schwab from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, September 21st. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.91.

Charles Schwab Company 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.