Principal Financial Group Inc. grew its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,673,901 shares of the financial services provider's stock after acquiring an additional 38,201 shares during the quarter. Principal Financial Group Inc. owned 0.38% of Charles Schwab worth $432,536,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Country Trust Bank bought a new position in shares of Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC bought a new stake in shares of Charles Schwab in the 2nd quarter worth $27,000. Fortitude Family Office LLC increased its stake in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider's stock valued at $29,000 after buying an additional 192 shares during the last quarter. CGC Financial Services LLC bought a new stake in Charles Schwab during the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $29,000. 84.38% of the stock is currently owned by institutional investors.
Charles Schwab Price Performance
Shares of SCHW stock traded down $2.58 during trading hours on Thursday, reaching $73.17. The company had a trading volume of 10,374,511 shares, compared to its average volume of 8,031,684. The Charles Schwab Co. has a 12-month low of $53.49 and a 12-month high of $79.49. The company has a market capitalization of $130.13 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 1.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a fifty day moving average of $66.90 and a 200-day moving average of $69.49.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current year.
Charles Schwab Dividend Announcement
The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, November 8th. Charles Schwab's dividend payout ratio (DPR) is 39.06%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on SCHW shares. Cowen upped their price target 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. TD Cowen reiterated a "hold" rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. StockNews.com upgraded Charles Schwab from a "sell" rating to a "hold" rating in a report on Wednesday, October 16th. Finally, Morgan Stanley lifted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Two investment 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 stock presently has an average rating of "Hold" and a consensus price target of $73.94.
View Our Latest Analysis on SCHW
Insider Activity at Charles Schwab
In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company's stock in a transaction dated 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 sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the transaction, the director now directly owns 551,329 shares of the company's stock, valued at $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm's stock in a transaction that occurred 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 sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,465 shares of company stock worth $8,050,109. Corporate insiders own 6.60% of the company's stock.
Charles Schwab Company Profile
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Free Report)
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.
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