Handelsbanken Fonder AB Raises Position in The Charles Schwab Co. (NYSE:SCHW)

Handelsbanken Fonder AB grew its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 480,867 shares of the financial services provider’s stock after acquiring an additional 3,138 shares during the period. Handelsbanken Fonder AB’s holdings in Charles Schwab were worth $31,165,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after purchasing an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Fisher Asset Management LLC increased its stake in shares of Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock valued at $1,281,297,000 after purchasing an additional 292,155 shares in the last quarter. Putnam Investments LLC lifted its holdings in shares of Charles Schwab by 4.8% during the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after purchasing an additional 560,110 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Charles Schwab by 13.3% in 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 purchasing an additional 1,373,223 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at $1,355,175. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 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 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 approximately $54,822,000.02. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 99,636 shares of company stock valued at $6,457,104 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price objective on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. JPMorgan Chase & Co. lowered their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley reduced 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 note on Friday, August 16th. Finally, Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $72.38.

Charles Schwab Stock Performance

Charles Schwab stock traded up $1.35 during mid-day trading on Friday, reaching $64.75. 7,144,429 shares of the stock traded hands, compared to its average volume of 7,910,789. The stock has a market capitalization of $115.15 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The business’s 50-day moving average is $63.97 and its 200-day moving average is $69.72. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS. As a group, sell-side analysts predict that The Charles Schwab Co. will post 3.06 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. Stockholders of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Charles Schwab Company 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.