26,977 Shares of The Charles Schwab Corporation $SCHW Purchased by CenterBook Partners LP

CenterBook Partners LP purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,977 shares of the financial services provider’s stock, valued at approximately $2,637,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Asset One Wealth Management LLC bought a new stake in Charles Schwab in the third quarter valued at $1,344,000. Heritage Family Offices LLP bought a new position in shares of Charles Schwab during the third quarter valued at $253,000. Calamos Advisors LLC lifted its holdings in shares of Charles Schwab by 2.1% during the third quarter. Calamos Advisors LLC now owns 334,849 shares of the financial services provider’s stock valued at $32,728,000 after acquiring an additional 6,774 shares during the period. Alta Advisers Ltd boosted its stake in shares of Charles Schwab by 71.4% in the 3rd quarter. Alta Advisers Ltd now owns 11,605 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 4,835 shares in the last quarter. Finally, Principle Wealth Partners LLC boosted its stake in shares of Charles Schwab by 8.7% in the 3rd quarter. Principle Wealth Partners LLC now owns 5,167 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 414 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Down 1.1%

SCHW opened at $91.56 on Friday. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $114.53. The stock has a market capitalization of $158.33 billion, a PE ratio of 15.62, a PEG ratio of 0.81 and a beta of 0.77. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $98.51 and a two-hundred day moving average price of $97.39.

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

Charles Schwab Dividend Announcement

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

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Dennis Howard sold 2,198 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total value of $241,780.00. Following the transaction, the insider directly owned 6,980 shares in the company, valued at approximately $767,800. This trade represents a 23.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Beatty sold 1,000 shares of Charles Schwab stock in a transaction on Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the completion of the sale, the insider directly owned 10,738 shares of the company’s stock, valued at $1,195,461.54. This trade represents a 8.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 278,574 shares of company stock worth $31,302,606 in the last quarter. 6.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SCHW has been the topic of several analyst reports. UBS Group lowered their target price on shares of Charles Schwab from $113.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, October 16th. Compass Point lifted their price target on shares of Charles Schwab from $135.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Citigroup restated a “market outperform” rating on shares of Charles Schwab in a research report on Friday, October 16th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $111.00 price target (up from $109.00) on shares of Charles Schwab in a research report on Friday, October 16th. Finally, Truist Financial set a $115.00 price objective on shares of Charles Schwab in a research note on Friday, October 16th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.91.

Charles Schwab Profile

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.

Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.