Northwest & Ethical Investments L.P. Sells 1,800 Shares of The Charles Schwab Corporation $SCHW

Northwest & Ethical Investments L.P. lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 8.8% in the second quarter, HoldingsChannel reports. The fund owned 18,600 shares of the financial services provider’s stock after selling 1,800 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Charles Schwab were worth $1,674,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SCHW. Brighton Jones LLC increased its holdings in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Charles Schwab by 138.4% in the first quarter. Meeder Asset Management Inc. now owns 925 shares of the financial services provider’s stock valued at $72,000 after buying an additional 537 shares during the period. Federated Hermes Inc. grew its position in Charles Schwab by 6.7% during the first quarter. Federated Hermes Inc. now owns 8,216 shares of the financial services provider’s stock worth $643,000 after buying an additional 519 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Charles Schwab during the 1st quarter worth $1,576,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Charles Schwab by 19.6% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 6,702 shares of the financial services provider’s stock valued at $525,000 after acquiring an additional 1,096 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Cowen restated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,482 shares of company stock worth $905,295 over the last three months. Insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $91.86 on Friday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $163.23 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 0.85 and a beta of 1.02. The firm has a 50 day simple moving average of $93.81 and a 200 day simple moving average of $92.88.

Charles Schwab (NYSE:SCHW) last announced 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 company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the prior year, the business earned $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. Research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

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.