The Charles Schwab Corporation $SCHW Shares Bought by Calamos Advisors LLC

Calamos Advisors LLC grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 334,849 shares of the financial services provider’s stock after acquiring an additional 6,774 shares during the period. Calamos Advisors LLC’s holdings in Charles Schwab were worth $32,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Peoples Bank KS grew its position in Charles Schwab by 2.7% in the second quarter. Peoples Bank KS now owns 4,331 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 113 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in shares of Charles Schwab by 1.1% during the second quarter. Crumly & Associates Inc. now owns 10,479 shares of the financial services provider’s stock valued at $967,000 after acquiring an additional 115 shares during the period. Cypress Capital Group boosted its holdings in shares of Charles Schwab by 4.2% during the first quarter. Cypress Capital Group now owns 2,945 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 118 shares during the period. Capital Management Associates Inc grew its position in shares of Charles Schwab by 2.8% during the third quarter. Capital Management Associates Inc now owns 4,429 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 120 shares during the last quarter. Finally, Klingman & Associates LLC increased its holdings in shares of Charles Schwab by 1.5% in the 1st quarter. Klingman & Associates LLC now owns 8,417 shares of the financial services provider’s stock worth $791,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several analyst reports. Bank of America raised their price target on shares of Charles Schwab from $91.00 to $95.00 and gave the company an “underperform” rating in a research note on Monday, October 5th. Barclays decreased their price objective on Charles Schwab from $118.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Truist Financial set a $115.00 price objective on Charles Schwab in a report on Friday, October 16th. JPMorgan Chase & Co. lowered their target price on Charles Schwab from $150.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research note on Friday, October 16th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $119.91.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded down $1.02 during trading on Friday, reaching $91.56. The stock had a trading volume of 7,577,884 shares, compared to its average volume of 8,741,089. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The firm has a market capitalization of $158.33 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 0.79 and a beta of 0.77. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $98.51 and a two-hundred day simple moving average of $97.39.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.18 billion. Charles Schwab had a net margin of 39.33% and a return on equity of 25.79%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. As a group, analysts anticipate that The Charles Schwab Corporation will post 6.41 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared 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 annualized dividend 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 currently 21.84%.

Insiders Place Their Bets

In other Charles Schwab news, insider Dennis Howard sold 2,198 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total value of $241,780.00. Following the sale, the insider owned 6,980 shares of the company’s stock, valued at $767,800. This trade represents a 23.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nigel J. Murtagh sold 24,778 shares of Charles Schwab stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $109.01, for a total value of $2,701,049.78. Following the completion of the transaction, the insider directly owned 57,972 shares in the company, valued at approximately $6,319,527.72. This represents a 29.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 278,574 shares of company stock valued at $31,302,606. Company insiders own 6.30% of the company’s stock.

About Charles Schwab

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.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.