ICICI Prudential Asset Management Co Ltd Buys 10,590 Shares of The Charles Schwab Co. (NYSE:SCHW)

ICICI Prudential Asset Management Co Ltd increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 15.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,080 shares of the financial services provider’s stock after purchasing an additional 10,590 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Charles Schwab were worth $5,255,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Alliance Wealth Advisors LLC increased its holdings in shares of Charles Schwab by 2.7% in the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 142 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Arcataur Capital Management LLC grew its holdings in shares of Charles Schwab by 2.3% in the third quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 150 shares during the last quarter. Tandem Capital Management Corp ADV lifted its holdings in Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock valued at $3,210,000 after buying an additional 150 shares in the last quarter. Finally, Ascent Wealth Partners LLC increased its position in shares of Charles Schwab by 0.7% during the second quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 164 shares during the period. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. 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 accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the sale, the director now owns 562,129 shares in the company, valued at $36,594,597.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,965 shares of company stock valued at $8,242,659. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW traded down $0.33 during trading hours on Wednesday, reaching $77.86. The company had a trading volume of 1,671,344 shares, compared to its average volume of 8,039,348. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The Charles Schwab Co. has a 1-year low of $54.24 and a 1-year high of $79.49. The business’s 50 day moving average price is $67.76 and its 200-day moving average price is $69.48. The firm has a market cap of $138.56 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the business posted $0.77 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The firm 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. Charles Schwab’s payout ratio is presently 39.06%.

Analysts Set New Price Targets

Several analysts recently weighed in on SCHW shares. Bank of America decreased their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Piper Sandler upped their target price on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price target on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Citigroup decreased their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Finally, Cowen lifted their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.18.

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.