25,176 The Charles Schwab Corporation $SCHW Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 294,137 shares of the financial services provider’s stock after purchasing an additional 25,176 shares during the period. Rakuten Investment Management Inc.’s holdings in Charles Schwab were worth $29,149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCHW. First Citizens Bank & Trust Co. raised its position in Charles Schwab by 102.3% during the third quarter. First Citizens Bank & Trust Co. now owns 33,750 shares of the financial services provider’s stock valued at $3,299,000 after acquiring an additional 17,068 shares in the last quarter. Financial Advisory Partners LLC bought a new stake in Charles Schwab in the first quarter worth approximately $3,199,000. Illinois Municipal Retirement Fund grew its position in Charles Schwab by 39.3% in the first quarter. Illinois Municipal Retirement Fund now owns 103,657 shares of the financial services provider’s stock worth $9,742,000 after acquiring an additional 29,260 shares in the last quarter. Diversified Management Inc. grew its position in Charles Schwab by 404.1% in the third quarter. Diversified Management Inc. now owns 48,078 shares of the financial services provider’s stock worth $4,699,000 after acquiring an additional 38,541 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Charles Schwab by 67.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,923,270 shares of the financial services provider’s stock worth $285,720,000 after purchasing an additional 1,179,312 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.7%

Charles Schwab stock opened at $89.30 on Wednesday. The firm has a market cap of $154.43 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 0.79 and a beta of 0.77. The firm has a fifty day moving average price of $99.56 and a two-hundred day moving average price of $97.54. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $114.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. As a group, analysts forecast that The Charles Schwab Corporation will post 6.41 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. Charles Schwab’s dividend payout ratio is currently 21.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SCHW shares. Wolfe Research restated an “outperform” rating and set a $127.00 price target (up from $123.00) on shares of Charles Schwab in a report on Tuesday, July 21st. Raymond James Financial reiterated an “outperform” rating and issued a $145.00 price objective (up from $137.00) on shares of Charles Schwab in a report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft set a $125.00 target price on shares of Charles Schwab and gave the stock a “buy” rating in a research report on Friday, October 16th. Piper Sandler cut their target price on Charles Schwab from $118.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Finally, TD Cowen boosted their price target on Charles Schwab from $128.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $119.91.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,778 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $109.01, for a total transaction of $2,701,049.78. Following the completion of the transaction, the insider directly owned 57,972 shares of the company’s stock, valued at approximately $6,319,527.72. This trade represents a 29.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula A. Sneed sold 5,263 shares of Charles Schwab stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $107.15, for a total value of $563,930.45. Following the sale, the director directly owned 91,711 shares in the company, valued at $9,826,833.65. The trade was a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 285,734 shares of company stock worth $32,073,309. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Profile

The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.