Sompo Asset Management Co. Ltd. Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Sompo Asset Management Co. Ltd. acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 8,950 shares of the financial services provider’s stock, valued at approximately $580,000.

Several other institutional investors also recently bought and sold shares of SCHW. BOKF NA grew its holdings in Charles Schwab by 33.9% during the 1st quarter. BOKF NA now owns 20,069 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 5,078 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in Charles Schwab by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 8,007 shares of the financial services provider’s stock valued at $579,000 after buying an additional 337 shares during the last quarter. Sweeney & Michel LLC acquired a new stake in shares of Charles Schwab in the 1st quarter worth about $362,000. Dynasty Wealth Management LLC acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $847,000. Finally, Vancity Investment Management Ltd increased its position in Charles Schwab by 3.1% in the 1st quarter. Vancity Investment Management Ltd now owns 252,097 shares of the financial services provider’s stock valued at $18,236,000 after acquiring an additional 7,666 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab 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 transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,929 shares of company stock valued at $8,196,624 in the last ninety days. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SCHW shares. 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. JMP Securities raised their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 16th. Raymond James lowered their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Piper Sandler upped their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group reduced their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average target price of $74.18.

Charles Schwab Stock Up 0.6 %

Shares of SCHW opened at $81.26 on Monday. The Charles Schwab Co. has a 12 month low of $55.59 and a 12 month high of $82.50. The stock has a market cap of $144.62 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 1.76 and a beta of 0.96. The company has a 50-day moving average price of $70.55 and a two-hundred day moving average price of $69.76. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. Charles Schwab’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

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.