Mainstream Capital Management LLC Acquires Shares of 15,869 The Charles Schwab Co. (NYSE:SCHW)

08 Nov 2024, 11:48 by Danessa Lincoln · The Markets Daily

Mainstream Capital Management LLC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW – Free Report) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 15,869 shares of the financial services provider’s stock, valued at approximately $1,028,000.

Other hedge funds also recently bought and sold shares of the company. Country Trust Bank bought a new position in shares of Charles Schwab during the 2nd quarter worth $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. Fortitude Family Office LLC grew its position in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after buying an additional 192 shares in the last quarter. CGC Financial Services LLC bought a new position in shares of Charles Schwab during the 2nd quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Charles Schwab during the 2nd quarter worth $29,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $73.10 on Friday. 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 company has a market cap of $130.00 billion, a PE ratio of 28.55, a P/E/G ratio of 1.63 and a beta of 0.96. The business has a 50-day simple moving average of $66.90 and a two-hundred day simple moving average of $69.49. The Charles Schwab Co. has a fifty-two week low of $53.49 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business 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. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current fiscal 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 dividend 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

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. TD Cowen restated a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Jefferies Financial Group decreased their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, Piper Sandler upped their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Two investment 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.94.

View Our Latest Stock Report on Charles Schwab

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the sale, the director now owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab 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 completion of the transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. 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 can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,465 shares of company stock valued at $8,050,109 over the last quarter. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Company Profile

(Free Report)