Vinva Investment Management Ltd Sells 2,765 Shares of The Charles Schwab Co. (NYSE:SCHW)

Vinva Investment Management Ltd lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.6% in the third quarter, Holdings Channel.com reports. The fund owned 46,828 shares of the financial services provider’s stock after selling 2,765 shares during the period. Vinva Investment Management Ltd’s holdings in Charles Schwab were worth $3,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Financial Counselors Inc. increased its position in Charles Schwab by 5.5% during the 3rd quarter. Financial Counselors Inc. now owns 275,976 shares of the financial services provider’s stock valued at $17,886,000 after purchasing an additional 14,495 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Charles Schwab by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,142,602 shares of the financial services provider’s stock valued at $592,532,000 after purchasing an additional 331,846 shares during the period. Public Sector Pension Investment Board increased its position in Charles Schwab by 2.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 259,767 shares of the financial services provider’s stock valued at $16,835,000 after purchasing an additional 6,585 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Charles Schwab by 3.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 541,079 shares of the financial services provider’s stock valued at $35,067,000 after purchasing an additional 20,066 shares during the period. Finally, First Commonwealth Financial Corp PA increased its position in Charles Schwab by 2.2% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 12,459 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 269 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SCHW. Piper Sandler boosted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Raymond James dropped their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Bank of America dropped their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.18.

Charles Schwab Price Performance

NYSE SCHW opened at $82.60 on Friday. The company has a 50-day moving average price of $72.02 and a 200-day moving average price of $70.03. The Charles Schwab Co. has a 52 week low of $55.59 and a 52 week high of $82.65. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $147.00 billion, a P/E ratio of 32.27, a PEG ratio of 1.79 and a beta of 0.96.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Insider Buying and Selling at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares of the company’s stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,968 shares of company stock valued at $9,419,271. Company insiders own 6.60% of the company’s stock.

Charles Schwab 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.