Advisor Resource Council Purchases New Shares in The Charles Schwab Co. (NYSE:SCHW)

Advisor Resource Council acquired a new position in The Charles Schwab Co. (NYSE:SCHW) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,821 shares of the financial services provider’s stock, valued at approximately $312,000.

Several other hedge funds have also modified their holdings of SCHW. Price T Rowe Associates Inc. MD boosted its position in Charles Schwab by 4.2% during 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 in the last quarter. Darsana Capital Partners LP lifted its stake in Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after buying an additional 2,000,000 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after buying an additional 1,644,931 shares during the last quarter. Mondrian Investment Partners LTD raised its holdings in shares of Charles Schwab by 28,736.1% during the first quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after acquiring an additional 1,480,485 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Charles Schwab in the first quarter valued at approximately $105,563,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent analyst reports. Jefferies Financial Group cut their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JMP Securities increased their price objective on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Cowen increased their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $73.10 on Friday. The business has a 50-day simple moving average of $66.90 and a 200-day simple moving average of $69.49. The company has a market cap of $130.00 billion, a PE ratio of 28.55, a P/E/G ratio of 1.63 and a beta of 0.96. The Charles Schwab Co. has a one year low of $53.49 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is currently owned by insiders.

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.