Sumitomo Mitsui Trust Group Inc. Buys 85,148 Shares of The Charles Schwab Corporation $SCHW

Sumitomo Mitsui Trust Group Inc. lifted its position in The Charles Schwab Corporation (NYSE:SCHW) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,002,413 shares of the financial services provider’s stock after buying an additional 85,148 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Charles Schwab worth $382,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab during the second quarter worth about $27,000. West Branch Capital LLC acquired a new position in Charles Schwab during the third quarter worth approximately $27,000. Hoese & Co LLP raised its stake in Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares during the period. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $32,000. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SCHW. Bank of America boosted their target price on Charles Schwab from $88.00 to $91.00 and gave the stock an “underperform” rating in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a research note on Monday. Finally, Wolfe Research restated an “outperform” rating and set a $122.00 price objective on shares of Charles Schwab in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.

Insider Activity

In other news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $100.19 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $104.76. The firm has a market cap of $178.03 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 0.70 and a beta of 0.94. The business’s fifty day moving average is $96.33 and its 200-day moving average is $95.14.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping 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 business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.