CIBC Asset Management Inc Has $15.94 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

CIBC Asset Management Inc lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 245,871 shares of the financial services provider's stock after acquiring an additional 16,538 shares during the quarter. CIBC Asset Management Inc's holdings in Charles Schwab were worth $15,935,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider's stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider's stock valued at $802,193,000 after acquiring an additional 225,397 shares during the last quarter. Allen Investment Management LLC raised its position in shares of Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider's stock valued at $642,014,000 after buying an additional 251,485 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider's stock worth $528,445,000 after purchasing an additional 596,589 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Charles Schwab by 0.6% in the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock valued at $432,536,000 after purchasing an additional 38,201 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company's stock, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,645 shares of company stock valued at $7,440,627 in the last three months. Corporate insiders own 6.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Raymond James dropped their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Jefferies Financial Group reduced their price target on Charles Schwab from $79.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. The Goldman Sachs Group upped their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Piper Sandler raised their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $74.18.

Charles Schwab Trading Up 0.6 %

Shares of Charles Schwab stock traded up $0.45 on Friday, reaching $80.64. 9,372,796 shares of the company were exchanged, compared to its average volume of 8,107,237. The Charles Schwab Co. has a fifty-two week low of $55.09 and a fifty-two week high of $82.50. The stock has a fifty day moving average price of $68.74 and a 200-day moving average price of $69.66. The firm has a market capitalization of $143.51 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab's revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. On average, analysts expect that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. 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.