Equity Investment Corp Sells 26,280 Shares of The Charles Schwab Corporation $SCHW

Equity Investment Corp cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 788,347 shares of the financial services provider’s stock after selling 26,280 shares during the quarter. Equity Investment Corp’s holdings in Charles Schwab were worth $77,053,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Compass Financial Management LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at about $27,000. Scarborough Advisors LLC bought a new stake in Charles Schwab during the first quarter worth about $29,000. Main Street Group LTD acquired a new position in Charles Schwab during the first quarter valued at approximately $33,000. Mascoma Wealth Management LLC boosted its position in Charles Schwab by 71.6% during the third quarter. Mascoma Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 156 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in Charles Schwab during the second quarter valued at approximately $39,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCHW has been the subject of a number of analyst reports. Jefferies Financial Group set a $120.00 price target on Charles Schwab in a research note on Friday, October 16th. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a research note on Friday, October 16th. TD Cowen increased their price objective on Charles Schwab from $128.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 12th. Wells Fargo & Company cut their price objective on Charles Schwab from $105.00 to $103.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Finally, Rothschild & Co Redburn raised their target price on shares of Charles Schwab from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.91.

Key Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab Crypto added Solana, Avalanche and Chainlink for eligible U.S. investors, expanding its lineup beyond Bitcoin and Ether. The broader selection may help Schwab compete for crypto-trading activity and deepen relationships with its large brokerage customer base; the offering is limited to eligible clients. Schwab Crypto Adds Chainlink, Solana and Avalanche for Eligible US Investors
• Positive Sentiment: Schwab lowered account minimums for clients seeking IPO shares. Easier access could make the service available to more investors and support account acquisition or engagement. Charles Schwab Lowers Account Minimums to Request IPO Shares
• Neutral Sentiment: Schwab’s Trading Activity Index rose to 61.94 in October from 58.92 in September, indicating increased retail-investor activity. This may support trading-related revenue, but the index alone does not show how much activity translated into Schwab’s results. Schwab Trading Activity Index: STAX Score Rises in October Despite AI Selloff

Insider Transactions at Charles Schwab

In other news, insider Dennis Howard sold 2,198 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total transaction of $241,780.00. Following the completion of the transaction, the insider directly owned 6,980 shares in the company, valued at approximately $767,800. The trade was a 23.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter Bettinger sold 176,210 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $113.49, for a total value of $19,998,072.90. Following the transaction, the chairman directly owned 610,360 shares in the company, valued at $69,269,756.40. The trade was a 22.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 253,796 shares of company stock worth $28,601,556. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Up 0.5%

Shares of SCHW stock opened at $93.18 on Wednesday. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $114.53. The stock has a market cap of $160.83 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.82 and a beta of 0.77. The firm’s 50-day moving average is $97.82 and its 200-day moving average is $97.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.64 and a current ratio of 0.66.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.18 billion. Charles Schwab had a return on equity of 25.46% and a net margin of 39.33%. Charles Schwab’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the company posted $1.31 earnings per share. Sell-side analysts predict that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Charles Schwab’s dividend payout ratio (DPR) is presently 21.84%.

Charles Schwab Company Profile

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions. Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.