Equity Investment Corp Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Equity Investment Corp raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 9.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,640,157 shares of the financial services provider's stock after purchasing an additional 140,643 shares during the quarter. Charles Schwab accounts for approximately 2.5% of Equity Investment Corp's portfolio, making the stock its 18th largest position. Equity Investment Corp owned about 0.09% of Charles Schwab worth $106,299,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SCHW. Washington Trust Advisors Inc. lifted 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 acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Charles Schwab during the third quarter valued at about $25,000. Country Trust Bank purchased a new position in Charles Schwab during the second quarter worth about $26,000. American Capital Advisory LLC bought a new stake in Charles Schwab in the 2nd quarter worth about $27,000. Finally, 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. 84.38% of the stock is owned by institutional investors.

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab 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 sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm's stock in a transaction on Monday, November 11th. The stock was 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 of the company's stock, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,645 shares of company stock worth $7,440,627. Company insiders own 6.60% of the company's stock.

Charles Schwab Price Performance

Shares of SCHW traded up $0.76 during midday trading on Monday, hitting $81.40. 9,447,706 shares of the company traded hands, compared to its average volume of 8,113,250. The stock has a 50-day moving average of $69.10 and a 200-day moving average of $69.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The Charles Schwab Co. has a one year low of $55.42 and a one year high of $82.50. The firm has a market cap of $144.86 billion, a P/E ratio of 31.80, a PEG ratio of 1.76 and a beta of 0.96.

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, topping analysts' consensus estimates 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 16.92% 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 quarter last year, the business posted $0.77 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company 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 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, November 8th. Charles Schwab's dividend payout ratio (DPR) is currently 39.06%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SCHW. Piper Sandler boosted their target price on Charles Schwab from $64.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. Bank of America reduced their price objective on Charles Schwab from $63.00 to $61.00 and set an "underperform" rating for the company in a research note on Wednesday, October 16th. Cowen lifted their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. Morgan Stanley boosted their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Two equities research 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. Based on data from MarketBeat, Charles Schwab has a consensus rating of "Hold" and a consensus target price of $74.18.

Charles Schwab 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.