The Charles Schwab Corporation $SCHW Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario lessened its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 11.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,469 shares of the financial services provider’s stock after selling 6,500 shares during the quarter. Investment Management Corp of Ontario’s holdings in Charles Schwab were worth $4,696,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SCHW. Brighton Jones LLC grew its position in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Charles Schwab in the 1st quarter valued at approximately $84,000. Benjamin Edwards Inc. lifted its stake in Charles Schwab by 9.5% in the 1st quarter. Benjamin Edwards Inc. now owns 6,427 shares of the financial services provider’s stock valued at $503,000 after buying an additional 557 shares in the last quarter. SouthState Corp grew its holdings in Charles Schwab by 3,078.5% during the 1st quarter. SouthState Corp now owns 6,071 shares of the financial services provider’s stock valued at $475,000 after buying an additional 5,880 shares during the last quarter. Finally, Independent Advisor Alliance increased its position in Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after buying an additional 4,754 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Cowen restated a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Truist Financial upped their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.11.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the company’s 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 completion of the sale, the insider directly owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s 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 transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 0.1%

NYSE SCHW opened at $94.17 on Wednesday. The company has a market cap of $167.34 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.84 and a beta of 0.96. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The company has a 50-day moving average of $93.65 and a 200-day moving average of $93.30.

Charles Schwab (NYSE:SCHW) last released its 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 21.02%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period last year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders 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 dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

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.