The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Premier Fund Managers Ltd

Premier Fund Managers Ltd grew its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 900,000 shares of the financial services provider's stock after purchasing an additional 70,000 shares during the quarter. Charles Schwab makes up approximately 2.1% of Premier Fund Managers Ltd's portfolio, making the stock its 19th largest holding. Premier Fund Managers Ltd owned 0.05% of Charles Schwab worth $57,974,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lake Street Advisors Group LLC boosted its stake in shares of Charles Schwab by 28.7% during the first quarter. Lake Street Advisors Group LLC now owns 13,187 shares of the financial services provider's stock valued at $954,000 after acquiring an additional 2,942 shares during the last quarter. Pitcairn Co. boosted its stake in shares of Charles Schwab by 10.1% during the 1st quarter. Pitcairn Co. now owns 11,072 shares of the financial services provider's stock worth $801,000 after purchasing an additional 1,015 shares during the last quarter. Natixis purchased a new stake in shares of Charles Schwab during the first quarter worth about $523,000. LGT Group Foundation raised its position in shares of Charles Schwab by 4.6% in the first quarter. LGT Group Foundation now owns 12,361 shares of the financial services provider's stock valued at $894,000 after buying an additional 545 shares during the last quarter. Finally, Delap Wealth Advisory LLC purchased a new position in shares of Charles Schwab during the first quarter valued at approximately $325,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares of the company's stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the 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 transaction, the insider now owns 18,069 shares of the company's stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,645 shares of company stock valued at $7,440,627 in the last ninety days. Insiders own 6.60% of the company's stock.

Charles Schwab Stock Down 0.6 %

Shares of NYSE SCHW traded down $0.48 on Wednesday, hitting $79.71. The company had a trading volume of 1,708,173 shares, compared to its average volume of 8,077,836. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $55.42 and a 12-month high of $82.50. The firm has a market capitalization of $141.86 billion, a P/E ratio of 31.32, a PEG ratio of 1.76 and a beta of 0.96. The business has a 50 day moving average of $69.45 and a two-hundred day moving average of $69.67.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data 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. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the company earned $0.77 earnings per share. Charles Schwab's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Charles Schwab's dividend payout ratio is currently 39.06%.

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. Bank of America cut their price target on Charles Schwab from $63.00 to $61.00 and set an "underperform" rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $76.00 to $81.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $86.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Finally, Piper Sandler increased 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $74.18.

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.