The Charles Schwab Corporation $SCHW Shares Purchased by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 16.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 194,419 shares of the financial services provider’s stock after buying an additional 27,049 shares during the quarter. Charles Schwab accounts for about 2.5% of Kinsale Capital Group Inc.’s holdings, making the stock its 9th biggest holding. Kinsale Capital Group Inc.’s holdings in Charles Schwab were worth $19,002,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Flossbach Von Storch SE acquired a new position in shares of Charles Schwab during the second quarter worth approximately $987,930,000. Bank of New York Mellon Corp grew its stake in shares of Charles Schwab by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after purchasing an additional 3,009,884 shares during the last quarter. Danske Bank A S bought a new stake in shares of Charles Schwab during the second quarter valued at approximately $145,950,000. Assenagon Asset Management S.A. grew its stake in shares of Charles Schwab by 67.6% during the third quarter. Assenagon Asset Management S.A. now owns 2,923,270 shares of the financial services provider’s stock valued at $285,720,000 after purchasing an additional 1,179,312 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Charles Schwab by 63.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,786,512 shares of the financial services provider’s stock valued at $261,876,000 after purchasing an additional 1,081,382 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Key Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab lowered account minimums for clients seeking IPO shares, potentially making IPO access available to more customers and helping attract or retain brokerage accounts. Read More.
• Positive Sentiment: The company expanded Schwab Crypto trading to Solana, Avalanche and Chainlink, beyond Bitcoin and Ether. Broader product choice and competitive trading fees could attract customers and increase engagement, though the financial contribution is not yet clear. Read More.
• Neutral Sentiment: Schwab’s Trading Activity Index rose to 61.94 in October from 58.92 in September, indicating increased retail trading activity and more interest in individual stocks. This may support transaction activity, but the index alone does not show the effect on revenue. Read More.
• Negative Sentiment: Schwab cited accounting uncertainty around client cryptocurrency holdings, which could create financial-reporting and regulatory risks as its crypto business grows. Read More.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $111.33, for a total transaction of $111,330.00. Following the transaction, the insider owned 10,738 shares in the company, valued at approximately $1,195,461.54. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis Howard sold 2,198 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $110.00, for a total value of $241,780.00. Following the transaction, the insider owned 6,980 shares of the company’s stock, valued at $767,800. The trade was a 23.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 253,796 shares of company stock worth $28,601,556. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial set a $115.00 price target on shares of Charles Schwab in a report on Friday, October 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $117.00 price objective (down from $122.00) on shares of Charles Schwab in a report on Friday, October 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $111.00 price objective (up from $109.00) on shares of Charles Schwab in a research report on Friday, October 16th. Weiss Ratings raised Charles Schwab from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 10th. Finally, BMO Capital Markets lowered their target price on Charles Schwab from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Monday, October 19th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $119.91.

Charles Schwab Price Performance

SCHW opened at $92.78 on Tuesday. The company has a fifty day moving average price of $98.16 and a two-hundred day moving average price of $97.35. The firm has a market capitalization of $160.45 billion, a PE ratio of 15.83, a P/E/G ratio of 0.83 and a beta of 0.77. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.31 EPS. As a group, analysts anticipate that The Charles Schwab Corporation will post 6.41 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. Charles Schwab’s payout ratio is 21.84%.

Charles Schwab Company Profile

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.

Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.