The Charles Schwab Corporation $SCHW Shares Purchased by Nemes Rush Group LLC

Nemes Rush Group LLC boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 17,968.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 23,128 shares of the financial services provider’s stock after acquiring an additional 23,000 shares during the quarter. Nemes Rush Group LLC’s holdings in Charles Schwab were worth $2,261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Charles Schwab by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after buying an additional 3,009,884 shares in the last quarter. Bank of America Corp DE increased its holdings in Charles Schwab by 3.5% in the first quarter. Bank of America Corp DE now owns 15,623,030 shares of the financial services provider’s stock valued at $1,468,252,000 after buying an additional 530,191 shares in the last quarter. Flossbach Von Storch SE purchased a new position in Charles Schwab in the second quarter valued at about $987,930,000. Dimensional Fund Advisors LP lifted its position in shares of Charles Schwab by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,742,934 shares of the financial services provider’s stock valued at $539,705,000 after acquiring an additional 60,979 shares during the period. Finally, Provident Trust Co. lifted its position in shares of Charles Schwab by 0.4% during the 2nd quarter. Provident Trust Co. now owns 3,716,441 shares of the financial services provider’s stock valued at $342,916,000 after acquiring an additional 13,616 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial set a $115.00 price target on Charles Schwab in a research note on Friday, October 16th. Compass Point raised their price objective on Charles Schwab from $135.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Bank of America raised their price objective on Charles Schwab from $91.00 to $95.00 and gave the company an “underperform” rating in a research note on Monday, October 5th. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 price objective (up from $137.00) on shares of Charles Schwab in a report on Thursday, October 15th. Finally, Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $119.91.

Charles Schwab News Summary

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab lowered account minimums for clients seeking IPO shares, potentially making IPO access available to more customers and helping attract or retain brokerage accounts. Read More.
• Positive Sentiment: The company expanded Schwab Crypto trading to Solana, Avalanche and Chainlink, beyond Bitcoin and Ether. Broader product choice and competitive trading fees could attract customers and increase engagement, though the financial contribution is not yet clear. Read More.
• Neutral Sentiment: Schwab’s Trading Activity Index rose to 61.94 in October from 58.92 in September, indicating increased retail trading activity and more interest in individual stocks. This may support transaction activity, but the index alone does not show the effect on revenue. Read More.
• Negative Sentiment: Schwab cited accounting uncertainty around client cryptocurrency holdings, which could create financial-reporting and regulatory risks as its crypto business grows. Read More.

Insider Buying and Selling

In related news, insider Dennis Howard sold 2,198 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total transaction of $241,780.00. Following the completion of the transaction, the insider directly owned 6,980 shares in the company, valued at $767,800. The trade was a 23.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter Bettinger sold 176,210 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $113.49, for a total value of $19,998,072.90. Following the completion of the sale, the chairman directly owned 610,360 shares in the company, valued at approximately $69,269,756.40. The trade was a 22.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 253,796 shares of company stock worth $28,601,556 in the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $92.78 on Tuesday. 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 $98.16 and a two-hundred day moving average price of $97.35. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $114.53. The company has a market capitalization of $160.45 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77.

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 during the quarter, compared to analysts’ expectations of $7.18 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. As a group, research analysts expect that The Charles Schwab Corporation will post 6.41 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

About Charles Schwab

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.