The Charles Schwab Corporation $SCHW Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 11.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,040,864 shares of the financial services provider’s stock after purchasing an additional 305,904 shares during the quarter. Nordea Investment Management AB owned 0.17% of Charles Schwab worth $291,436,000 as of its most recent filing with the SEC.

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

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $101.95 on Tuesday. 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 firm’s 50-day simple moving average is $96.51 and its 200-day simple moving average is $95.22. The firm has a market cap of $181.16 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 0.70 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the previous year, the company earned $0.71 earnings per share. Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction on 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 owned 11,923 shares of the company’s stock, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SCHW. Truist Financial raised their target price on Charles Schwab from $113.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. BMO Capital Markets began coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective on the stock. Citizens Jmp upped their target price on shares of Charles Schwab from $110.00 to $120.00 and gave the company a “market outperform” rating in a research note on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.57.

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.