The Charles Schwab Corporation $SCHW Stake Boosted by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 49.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,855 shares of the financial services provider’s stock after buying an additional 40,730 shares during the period. Charles Schwab accounts for 1.5% of University of Texas Texas AM Investment Management Co.’s portfolio, making the stock its 15th largest position. University of Texas Texas AM Investment Management Co.’s holdings in Charles Schwab were worth $12,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SCHW. Bank of New York Mellon Corp boosted its position in Charles Schwab by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after acquiring an additional 3,009,884 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Charles Schwab by 3.5% in the 1st quarter. Bank of America Corp DE now owns 15,623,030 shares of the financial services provider’s stock valued at $1,468,252,000 after purchasing an additional 530,191 shares during the period. Flossbach Von Storch SE purchased a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $987,930,000. Dimensional Fund Advisors LP boosted its position in shares of Charles Schwab by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 5,742,934 shares of the financial services provider’s stock valued at $539,705,000 after purchasing an additional 60,979 shares in the last quarter. Finally, Provident Trust Co. boosted its position in shares of Charles Schwab by 0.4% during the second quarter. Provident Trust Co. now owns 3,716,441 shares of the financial services provider’s stock valued at $342,916,000 after purchasing an additional 13,616 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan Beatty sold 1,000 shares of Charles Schwab stock in a transaction on Monday, August 17th. The stock was sold at an average price of $111.33, for a total transaction of $111,330.00. Following the completion of the transaction, the insider owned 10,738 shares in the company, valued at approximately $1,195,461.54. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Walter Bettinger sold 176,210 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $113.49, for a total value of $19,998,072.90. Following the completion of the sale, the chairman directly owned 610,360 shares in the company, valued at $69,269,756.40. This trade represents a 22.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 253,796 shares of company stock worth $28,601,556. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SCHW shares. Rothschild & Co Redburn upped their price target on Charles Schwab from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Raymond James Financial reiterated an “outperform” rating and issued a $145.00 price objective (up from $137.00) on shares of Charles Schwab in a report on Thursday, October 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $111.00 price objective (up from $109.00) on shares of Charles Schwab in a research report on Friday, October 16th. Compass Point boosted their target price on shares of Charles Schwab from $135.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research report 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.91.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $91.56 on Monday. The company has a 50 day simple moving average of $98.51 and a two-hundred day simple moving average of $97.39. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $114.53. The company has a market capitalization of $158.33 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 0.81 and a beta of 0.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.

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

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Charles Schwab’s dividend payout ratio (DPR) is 21.84%.

Charles Schwab Profile

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.