Keystone Financial Services Purchases 1,275 Shares of The Charles Schwab Co. (NYSE:SCHW)

Keystone Financial Services lifted its position in The Charles Schwab Co. (NYSE:SCHW) by 7.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,375 shares of the financial services provider’s stock after purchasing an additional 1,275 shares during the period. Charles Schwab comprises approximately 0.5% of Keystone Financial Services’ portfolio, making the stock its 24th biggest holding. Keystone Financial Services’ holdings in Charles Schwab were worth $1,191,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after acquiring an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares during the period. Legal & General Group Plc increased its stake in shares of Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after acquiring an additional 225,397 shares in the last quarter. Allen Investment Management LLC increased its stake in shares of Charles Schwab by 3.0% in the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after acquiring an additional 251,485 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Charles Schwab by 8.9% during the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after acquiring an additional 596,589 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft boosted 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. Raymond James dropped their target price on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Piper Sandler boosted their target price on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley boosted their target price on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.18.

Charles Schwab Stock Up 5.3 %

Charles Schwab stock opened at $77.85 on Tuesday. The stock has a market cap of $138.45 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a one year low of $53.60 and a one year high of $79.49. The stock has a fifty day moving average of $67.24 and a 200 day moving average of $69.44.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. Charles Schwab’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,465 shares of company stock worth $8,050,109. 6.60% of the stock is owned by insiders.

Charles Schwab Profile

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.