West Family Investments Inc. Boosts Stake in The Charles Schwab Corporation $SCHW

West Family Investments Inc. increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 77.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,860 shares of the financial services provider’s stock after purchasing an additional 3,439 shares during the quarter. West Family Investments Inc.’s holdings in Charles Schwab were worth $717,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Charles Schwab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after buying an additional 2,786,829 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. Geode Capital Management LLC increased its stake in shares of Charles Schwab by 2.9% in the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after purchasing an additional 1,038,376 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Charles Schwab by 2.8% in the second quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock worth $2,740,479,000 after purchasing an additional 815,625 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Charles Schwab during the 2nd quarter valued at $1,889,858,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, TD Cowen lifted their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Stock Performance

NYSE:SCHW opened at $92.94 on Friday. The firm has a market capitalization of $165.14 billion, a PE ratio of 21.76, a PEG ratio of 0.85 and a beta of 1.02. The stock’s fifty day moving average is $93.79 and its 200 day moving average is $92.98. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

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, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. The business’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,482 shares of company stock valued at $905,295. 6.30% of the stock is owned by insiders.

Charles Schwab Company Profile

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.