The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Palisade Asset Management LLC

Palisade Asset Management LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,735 shares of the financial services provider’s stock after buying an additional 565 shares during the quarter. Palisade Asset Management LLC’s holdings in Charles Schwab were worth $1,733,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Country Trust Bank acquired a new stake in Charles Schwab in the 2nd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab in the third quarter worth about $25,000. Washington Trust Advisors Inc. grew its stake in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares during the period. Finally, American Capital Advisory LLC acquired a new position in Charles Schwab during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Cowen increased their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Piper Sandler upped their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group dropped their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.18.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 62,345 shares of the firm’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 value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,929 shares of company stock valued at $8,196,624 over the last three months. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.6 %

SCHW stock opened at $81.25 on Friday. The firm has a fifty day moving average price of $70.55 and a two-hundred day moving average price of $69.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1-year low of $55.59 and a 1-year high of $82.50. The firm has a market cap of $144.60 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.75 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released 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. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. Charles Schwab’s payout ratio is currently 39.06%.

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.