Worth Asset Management LLC Acquires 10,301 Shares of The Charles Schwab Corporation $SCHW

Worth Asset Management LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the third quarter, Holdings Channel.com reports. The fund purchased 10,301 shares of the financial services provider’s stock, valued at approximately $1,007,000.

Several other hedge funds have also modified their holdings of the stock. Moody National Bank Trust Division raised its position in Charles Schwab by 6.7% in the 3rd quarter. Moody National Bank Trust Division now owns 20,514 shares of the financial services provider’s stock valued at $2,005,000 after purchasing an additional 1,294 shares in the last quarter. RVW Wealth LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter worth approximately $200,000. Iowa State Bank boosted its stake in Charles Schwab by 1.7% in the third quarter. Iowa State Bank now owns 30,610 shares of the financial services provider’s stock valued at $2,992,000 after acquiring an additional 511 shares in the last quarter. Versant Capital Management Inc grew its stake in Charles Schwab by 12.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,710 shares of the financial services provider’s stock worth $558,000 after buying an additional 652 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its position in shares of Charles Schwab by 24.6% during the second quarter. Silicon Valley Capital Partners now owns 156,949 shares of the financial services provider’s stock worth $14,482,000 after acquiring an additional 30,981 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Trading Down 1.3%

Shares of NYSE SCHW traded down $1.27 during trading on Wednesday, hitting $95.53. 3,339,436 shares of the company traded hands, compared to its average volume of 10,066,033. The firm has a market capitalization of $165.20 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.85 and a beta of 0.79. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $106.18 and a 200-day moving average price of $98.11. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $114.53.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. On average, equities analysts predict that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.3%. Charles Schwab’s payout ratio is 23.27%.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research reports. Wells Fargo & Company assumed coverage on Charles Schwab in a report on Friday, October 2nd. They set an “equal weight” rating and a $105.00 price target on the stock. Barclays cut their price target on shares of Charles Schwab from $125.00 to $118.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets cut Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a report on Monday, July 20th. Piper Sandler reduced their price target on shares of Charles Schwab from $118.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.05.

Insiders Place Their Bets

In related news, insider Dennis Howard sold 28,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the completion of the sale, the insider directly owned 10,470 shares of the company’s stock, valued at approximately $1,099,454.70. This trade represents a 72.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nigel Murtagh sold 32,947 shares of Charles Schwab stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $104.01, for a total value of $3,426,817.47. Following the sale, the insider owned 57,972 shares in the company, valued at $6,029,667.72. This represents a 36.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 645,582 shares of company stock valued at $69,553,935. Corporate insiders own 6.30% of the company’s stock.

About Charles Schwab

Charles Schwab Corporation (NYSE:SCHW) is a financial services company that provides brokerage, investment, banking and wealth management services to individual investors, employers, institutions and independent investment advisors. Its offerings include online and mobile trading, securities brokerage, retirement accounts, financial planning, portfolio management, banking products, research and access to mutual funds and exchange-traded funds.

The company operates through businesses including Schwab Brokerage, Schwab Wealth Advisory, Schwab Asset Management and Charles Schwab Bank.