Harel Insurance Investments & Financial Services Ltd. Takes Position in The Charles Schwab Corporation $SCHW

Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,672 shares of the financial services provider’s stock, valued at approximately $153,000.

Several other institutional investors have also modified their holdings of SCHW. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at about $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab in the 1st quarter valued at approximately $31,000. Finally, Activest Wealth Management lifted its stake in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 65,866 shares of company stock worth $6,370,897. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Performance

NYSE SCHW opened at $93.18 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average price is $94.23 and its two-hundred day moving average price is $91.46. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The firm has a market capitalization of $169.15 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has authorized a share repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SCHW. Truist Financial boosted their target price on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Bank of America boosted their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Citigroup boosted their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

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.