Holocene Advisors LP Grows Position in The Charles Schwab Corporation $SCHW

Holocene Advisors LP increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 34.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,547,835 shares of the financial services provider’s stock after buying an additional 395,173 shares during the quarter. Holocene Advisors LP owned 0.09% of Charles Schwab worth $141,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. increased its position in shares of Charles Schwab by 1.9% in the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after acquiring an additional 2,786,829 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 12.3% during 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. State Street Corp grew its stake in shares of Charles Schwab by 0.7% in the second quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock worth $6,611,672,000 after purchasing an additional 531,329 shares during the last quarter. Geode Capital Management LLC increased its holdings in Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after purchasing an additional 1,038,376 shares during the period. Finally, Franklin Resources Inc. raised its position in Charles Schwab by 2.8% during the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after purchasing an additional 815,625 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Down 0.4%

Shares of Charles Schwab stock opened at $96.63 on Friday. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The firm has a market cap of $171.71 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96. The company has a 50-day moving average of $93.86 and a 200 day moving average of $93.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS 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 for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent analyst reports. UBS Group started coverage on Charles Schwab in a research report on Thursday. They issued a “buy” rating and a $119.00 price objective on the stock. TD Cowen raised their price target on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.37.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 3,072 shares of the firm’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 directly owned 11,923 shares in the company, valued at $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is owned by company 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.