Financiere des Professionnels Fonds d investissement inc. Trims Stake in The Charles Schwab Corporation $SCHW

Financiere des Professionnels Fonds d investissement inc. reduced its stake in The Charles Schwab Corporation (NYSE:SCHW) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 259,705 shares of the financial services provider’s stock after selling 15,375 shares during the period. Charles Schwab makes up approximately 1.4% of Financiere des Professionnels Fonds d investissement inc.’s portfolio, making the stock its 13th biggest position. Financiere des Professionnels Fonds d investissement inc.’s holdings in Charles Schwab were worth $24,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in Charles Schwab by 2,112.7% in the second quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock valued at $16,587,000 after buying an additional 173,577 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after acquiring an additional 40,275 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new position in Charles Schwab during the 2nd quarter worth $924,000. PFG Investments LLC raised its holdings in shares of Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after buying an additional 550 shares during the last quarter. Finally, W.H. Cornerstone Investments Inc. acquired a new position in Charles Schwab in the 2nd quarter valued at about $246,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $101.57 on Friday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $102.28. The company has a market cap of $180.48 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 0.70 and a beta of 0.96. The firm has a 50 day moving average of $95.56 and a 200-day moving average of $94.61. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results 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. The business 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%.The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced 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 of this dividend was Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

Insider Activity

In related news, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider owned 11,923 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Finally, Bank of America boosted their target price on Charles Schwab from $88.00 to $91.00 and gave the stock an “underperform” rating in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.84.

Charles Schwab Company Profile

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.