Marshall Wace LLP Grows Stock Holdings in The Charles Schwab Corporation $SCHW

Marshall Wace LLP increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 112.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,031,878 shares of the financial services provider’s stock after acquiring an additional 1,075,014 shares during the period. Marshall Wace LLP owned approximately 0.11% of Charles Schwab worth $185,389,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SCHW. Brighton Jones LLC raised its stake in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 19,195 shares in the last quarter. Federated Hermes Inc. lifted its stake in Charles Schwab by 6.7% in the first quarter. Federated Hermes Inc. now owns 8,216 shares of the financial services provider’s stock valued at $643,000 after buying an additional 519 shares during the last quarter. ING Groep NV acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $689,000. New Age Alpha Advisors LLC purchased a new position in shares of Charles Schwab during the first quarter worth approximately $84,000. Finally, Cary Street Partners Financial LLC increased its holdings in shares of Charles Schwab by 33.8% in the 1st quarter. Cary Street Partners Financial LLC now owns 26,302 shares of the financial services provider’s stock valued at $2,059,000 after acquiring an additional 6,648 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several recent research reports. Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. BMO Capital Markets assumed coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. TD Cowen lifted their price objective on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $106.45.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by company insiders.

Charles Schwab Price Performance

SCHW stock opened at $95.02 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $93.76 and its two-hundred day moving average is $93.10. The company has a market capitalization of $168.84 billion, a PE ratio of 22.25, a P/E/G ratio of 0.83 and a beta of 0.96. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

About Charles Schwab

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.