Aigen Investment Management LP Takes $1.92 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Aigen Investment Management LP acquired a new position in The Charles Schwab Co. (NYSE:SCHW - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 29,573 shares of the financial services provider's stock, valued at approximately $1,917,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC boosted its stake in Charles Schwab by 2.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider's stock valued at $347,000 after purchasing an additional 142 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Arcataur Capital Management LLC lifted its position in shares of Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider's stock valued at $431,000 after acquiring an additional 150 shares during the last quarter. Tandem Capital Management Corp ADV lifted its position in shares of Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider's stock valued at $3,210,000 after acquiring an additional 150 shares during the last quarter. Finally, Ascent Wealth Partners LLC lifted its position in shares of Charles Schwab by 0.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider's stock valued at $1,721,000 after acquiring an additional 164 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares in the company, valued at approximately $36,594,597.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company's stock, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares of the company's stock, valued at $36,594,597.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,465 shares of company stock worth $8,050,109 over the last quarter. Company insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on Charles Schwab from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Raymond James cut their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $76.00 to $81.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, TD Cowen restated a "hold" rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.18.

Charles Schwab Stock Up 0.4 %

Charles Schwab stock traded up $0.35 during mid-day trading on Tuesday, hitting $78.20. 10,244,276 shares of the company's stock were exchanged, compared to its average volume of 8,066,449. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $139.07 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.69 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $53.60 and a 1-year high of $79.49. The stock has a 50 day moving average of $67.50 and a two-hundred day moving average of $69.46.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm's revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. As a group, analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab's dividend payout ratio is 39.06%.

Charles Schwab Company Profile

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.