AustralianSuper Pty Ltd Boosts Holdings in The Charles Schwab Co. (NYSE:SCHW)

AustralianSuper Pty Ltd lifted its stake in The Charles Schwab Co. (NYSE:SCHW) by 2,617.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,707,771 shares of the financial services provider’s stock after acquiring an additional 1,644,931 shares during the quarter. AustralianSuper Pty Ltd owned 0.10% of Charles Schwab worth $110,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Country Trust Bank purchased a new stake in shares of Charles Schwab during the 2nd quarter valued at about $26,000. Fortitude Family Office LLC raised its position in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the period. American Capital Advisory LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. CGC Financial Services LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab in the 2nd quarter worth $29,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Cowen raised their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Barclays upped their price target on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler lifted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Stock Up 0.0 %

Shares of Charles Schwab stock traded up $0.01 on Thursday, reaching $71.11. 1,991,115 shares of the company were exchanged, compared to its average volume of 8,003,113. The company has a market cap of $126.38 billion, a P/E ratio of 29.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The Charles Schwab Co. has a 1-year low of $50.30 and a 1-year high of $79.49. The stock’s 50 day moving average price is $66.13 and its 200-day moving average price is $69.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. As a group, equities analysts forecast 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. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.41%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % 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. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction that occurred on 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 directly owns 551,329 shares in the company, valued at approximately $39,783,900.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,465 shares of company stock worth $8,050,109 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Company 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.