Skandinaviska Enskilda Banken AB publ Boosts Stake in The Charles Schwab Corporation $SCHW

Skandinaviska Enskilda Banken AB publ grew its stake in The Charles Schwab Corporation (NYSE:SCHW) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,483 shares of the financial services provider’s stock after acquiring an additional 3,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Charles Schwab were worth $31,978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC increased its position in shares of Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after purchasing an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new position in Charles Schwab during the 1st quarter valued at about $79,605,000. Figure 8 Investment Strategies LLC purchased a new stake in Charles Schwab in the second quarter valued at about $924,000. Independent Advisor Alliance boosted its holdings in Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 550 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,482 shares of company stock worth $905,295 over the last 90 days. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Truist Financial upped their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Barclays lifted their price target on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Up 1.2%

Charles Schwab stock opened at $92.94 on Friday. The business’s 50-day moving average price is $93.79 and its 200 day moving average price is $92.93. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $165.14 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is 25.29%.

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.