The Charles Schwab Corporation $SCHW Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 229,984 shares of the financial services provider’s stock after purchasing an additional 5,844 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Charles Schwab were worth $21,957,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Charles Schwab in the 2nd quarter valued at about $1,889,858,000. Brown Advisory Inc. boosted its position in shares of Charles Schwab by 88.4% in the second quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock worth $1,109,687,000 after acquiring an additional 5,708,208 shares during the last quarter. Primecap Management Co. CA grew its holdings in Charles Schwab by 35.9% in the second quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock valued at $1,736,736,000 after purchasing an additional 5,032,728 shares during the period. Bank of New York Mellon Corp increased its position in Charles Schwab by 28.3% during the second quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock worth $1,293,978,000 after purchasing an additional 3,125,179 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Charles Schwab by 1.9% during the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after purchasing an additional 2,786,829 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the company’s 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 directly owned 11,923 shares of the company’s stock, valued at $1,168,454. This represents a 20.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

SCHW stock opened at $100.19 on Friday. The firm has a market cap of $178.03 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94. 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 1 year low of $65.88 and a 1 year high of $104.76. The stock has a 50-day simple moving average of $96.33 and a 200-day simple moving average of $95.06.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.Charles Schwab’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. On average, equities analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SCHW. Barclays boosted their price objective on shares of Charles Schwab from $111.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen lifted their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. boosted their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

About Charles Schwab

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.