Oak Thistle LLC Takes Position in The Charles Schwab Corporation $SCHW

by · The Markets Daily

Oak Thistle LLC acquired a new position in The Charles Schwab Corporation (NYSE:SCHW – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,325 shares of the financial services provider’s stock, valued at approximately $1,463,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in shares of Charles Schwab by 2,112.7% during the 2nd quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock valued at $16,587,000 after purchasing an additional 173,577 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Charles Schwab by 26.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after purchasing an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Charles Schwab in the first quarter worth about $79,605,000. Figure 8 Investment Strategies LLC bought a new position in Charles Schwab during the second quarter valued at approximately $924,000. Finally, PFG Investments LLC grew its holdings in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after buying an additional 550 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Barclays lowered their price objective on shares of Charles Schwab from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. TD Cowen upped their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.37.

View Our Latest Stock Report on SCHW

Charles Schwab Price Performance

Charles Schwab stock opened at $96.55 on Thursday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $93.98 and a 200-day moving average price of $93.61. The firm has a market capitalization of $171.56 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96.

Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

About Charles Schwab

(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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