ICICI Prudential Asset Management Co Ltd Grows Holdings in The Charles Schwab Co. (NYSE:SCHW)

ICICI Prudential Asset Management Co Ltd grew its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 15.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,080 shares of the financial services provider's stock after buying an additional 10,590 shares during the period. ICICI Prudential Asset Management Co Ltd's holdings in Charles Schwab were worth $5,255,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Alliance Wealth Advisors LLC boosted its position in Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider's stock valued at $347,000 after buying an additional 142 shares during the period. Washington Trust Advisors Inc. boosted its position 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 acquiring an additional 149 shares in the last quarter. Arcataur Capital Management LLC boosted its position in 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 in the last quarter. Tandem Capital Management Corp ADV boosted its position in 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 in the last quarter. Finally, Ascent Wealth Partners LLC boosted its position in 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 in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Up 0.1 %

Charles Schwab stock traded up $0.08 during midday trading on Wednesday, reaching $78.27. The stock had a trading volume of 8,730,918 shares, compared to its average volume of 8,071,301. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $139.29 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a fifty day moving average of $67.76 and a 200 day moving average of $69.48. The Charles Schwab Co. has a 52-week low of $54.24 and a 52-week high of $79.49.

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 analysts' consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. On average, analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm'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 completion of the transaction, the chairman now directly owns 60,619,371 shares of the company's stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,965 shares of company stock worth $8,242,659. Corporate insiders own 6.60% of the company's stock.

Analyst Ratings Changes

SCHW has been the subject of a number of recent analyst reports. Bank of America decreased their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an "underperform" rating for the company in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Cowen boosted their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. Piper Sandler boosted 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, TD Cowen restated a "hold" rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. 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. According to MarketBeat, Charles Schwab has a consensus rating of "Hold" and a consensus price target of $74.18.

About Charles Schwab

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.