Talbot Financial LLC Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Talbot Financial LLC increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,640 shares of the financial services provider’s stock after purchasing an additional 9,906 shares during the quarter. Talbot Financial LLC’s holdings in Charles Schwab were worth $10,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SCHW. Cresset Asset Management LLC increased its holdings in Charles Schwab by 5.6% during the 4th quarter. Cresset Asset Management LLC now owns 307,866 shares of the financial services provider’s stock valued at $21,181,000 after purchasing an additional 16,310 shares during the period. Bridgewater Associates LP increased its stake in shares of Charles Schwab by 217.8% during the fourth quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock valued at $13,371,000 after buying an additional 133,186 shares during the period. Icon Wealth Advisors LLC bought a new position in shares of Charles Schwab during the fourth quarter valued at approximately $410,000. Ethic Inc. lifted its stake in Charles Schwab by 2.3% in the fourth quarter. Ethic Inc. now owns 131,387 shares of the financial services provider’s stock worth $9,039,000 after acquiring an additional 2,998 shares during the period. Finally, Putnam Investments LLC boosted its holdings in Charles Schwab by 4.8% in 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 acquiring an additional 560,110 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SCHW. Barclays decreased their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Bank of America lowered their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Citigroup reduced their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Finally, TD Cowen reiterated a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.25.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction on Thursday, July 11th. The shares were 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 directly owns 18,069 shares of the company’s stock, valued at $1,355,175. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,355,175. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Walter W. Bettinger purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 99,636 shares of company stock valued at $6,457,104 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Trading Up 0.9 %

Shares of Charles Schwab stock opened at $64.89 on Wednesday. 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 stock has a market capitalization of $115.33 billion, a PE ratio of 27.15, a P/E/G ratio of 1.29 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’s fifty day simple moving average is $63.95 and its 200-day simple moving average is $69.67.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio is 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.