The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by abrdn plc

30 Oct 2024, 09:53 by Tristan Rich · The Markets Daily

abrdn plc boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,259,418 shares of the financial services provider’s stock after purchasing an additional 8,728 shares during the quarter. abrdn plc owned approximately 0.07% of Charles Schwab worth $81,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&G Plc acquired a new position in Charles Schwab in the first quarter valued at approximately $11,452,000. Teewinot Capital Advisers L.L.C. lifted its position in Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after acquiring an additional 64,041 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Charles Schwab by 10.4% during the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Iowa State Bank increased its position in shares of Charles Schwab by 37.9% during the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Charles Schwab by 8.3% in the 1st quarter. Orion Portfolio Solutions LLC now owns 134,897 shares of the financial services provider’s stock valued at $9,758,000 after purchasing an additional 10,393 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $71.94 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $127.86 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.65 and a beta of 0.97. The company’s 50-day moving average price is $66.00 and its 200 day moving average price is $69.51. The Charles Schwab Co. has a 52 week low of $49.71 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company earned $0.77 EPS. Charles Schwab’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts forecast that The Charles Schwab Co. will post 3.11 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 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 41.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Citigroup decreased their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Raymond James lowered their price target on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.94.

View Our Latest Analysis on Charles Schwab

Insider Buying and Selling at Charles Schwab

In other news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the transaction, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,615 shares of company stock worth $8,125,089. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Company Profile

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