XTX Topco Ltd Invests $3 Million in The Charles Schwab Co. (NYSE:SCHW)

XTX Topco Ltd bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 40,713 shares of the financial services provider’s stock, valued at approximately $3,000,000.

A number of other institutional investors have also recently bought and sold shares of SCHW. Price T Rowe Associates Inc. MD increased its holdings in Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares in the last quarter. Morningstar Investment Services LLC increased its position in shares of Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after acquiring an additional 2,322,156 shares during the last quarter. Mondrian Investment Partners LTD boosted its holdings in shares of Charles Schwab by 28,736.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after buying an additional 1,480,485 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Charles Schwab in the 1st quarter valued at about $105,563,000. Finally, Wellington Management Group LLP increased its holdings in shares of Charles Schwab by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock worth $802,800,000 after acquiring an additional 1,373,223 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The disclosure for this purchase can be found here. Insiders sold a total of 90,636 shares of company stock valued at $5,880,654 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SCHW shares. Wells Fargo & Company initiated coverage on Charles Schwab in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price on the stock. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $64.00 in a report on Monday, July 29th. Morgan Stanley lowered their price objective on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. JMP Securities cut their price target on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research report on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $73.75.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $63.56 on Thursday. The business has a fifty day moving average price of $64.70 and a 200-day moving average price of $69.98. The company has a market capitalization of $112.96 billion, a PE ratio of 26.59, a PEG ratio of 1.16 and a beta of 0.97. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. Charles Schwab’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.57%. Charles Schwab’s payout ratio is presently 41.84%.

About Charles Schwab

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.