Horizon Bancorp Inc. IN Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Horizon Bancorp Inc. IN increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 48.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,416 shares of the financial services provider’s stock after acquiring an additional 790 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Charles Schwab were worth $157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Price T Rowe Associates Inc. MD lifted its stake in shares of Charles Schwab by 4.2% during the first 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. Darsana Capital Partners LP lifted its position in Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after acquiring an additional 2,000,000 shares during the period. Mondrian Investment Partners LTD increased its holdings in shares of Charles Schwab by 28,736.1% in the first quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after purchasing an additional 1,480,485 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Charles Schwab in the first quarter valued at about $105,563,000. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Charles Schwab by 231.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock worth $108,433,000 after purchasing an additional 1,046,322 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Charles R. Schwab sold 67,386 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Paul V. Woolway sold 1,150 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the transaction, the insider now directly owns 61,887 shares of the company’s stock, valued at $4,035,032.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,001 shares of company stock valued at $12,512,592. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on SCHW shares. Morgan Stanley lifted their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday. Jefferies Financial Group lowered their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. UBS Group reduced their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. JMP Securities upped their price objective on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.94.

Charles Schwab Price Performance

SCHW traded down $0.77 on Friday, reaching $71.82. 4,503,918 shares of the company’s stock were exchanged, compared to its average volume of 8,060,867. The Charles Schwab Co. has a twelve month low of $49.16 and a twelve month high of $79.49. The stock has a market cap of $127.64 billion, a PE ratio of 30.05, a P/E/G ratio of 1.63 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s fifty day moving average price is $65.60 and its 200-day moving average price is $69.52.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.