The Charles Schwab Corporation $SCHW is Pragma Gestao DE Patrimonio Ltd.’s 9th Largest Position

Pragma Gestao DE Patrimonio Ltd. decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 15.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,800 shares of the financial services provider’s stock after selling 16,900 shares during the quarter. Charles Schwab accounts for 3.8% of Pragma Gestao DE Patrimonio Ltd.’s portfolio, making the stock its 9th largest position. Pragma Gestao DE Patrimonio Ltd.’s holdings in Charles Schwab were worth $8,650,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Charles Schwab during the second quarter valued at $1,889,858,000. Vanguard Group Inc. lifted its stake in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after acquiring an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Charles Schwab by 229.3% in the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after acquiring an additional 9,749,728 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of research analyst reports. TD Cowen lifted their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Morgan Stanley increased their target price on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. raised their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. One equities research 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 given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Price Performance

NYSE:SCHW opened at $92.12 on Wednesday. The business’s 50-day simple moving average is $93.72 and its two-hundred day simple moving average is $93.08. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The stock has a market cap of $163.69 billion, a PE ratio of 21.57, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. This represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 6.30% of the company’s stock.

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.