The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia increased its position in shares of The Charles Schwab Co. (NYSE:SCHWGet Rating) by 49.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,723 shares of the financial services provider’s stock after acquiring an additional 100,912 shares during the quarter. Bank of Nova Scotia’s holdings in Charles Schwab were worth $19,354,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Charles Schwab by 16.1% in the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 51,526 shares of the financial services provider’s stock valued at $3,255,000 after buying an additional 7,151 shares during the period. Kentucky Retirement Systems increased its stake in Charles Schwab by 16.8% in the 2nd quarter. Kentucky Retirement Systems now owns 111,934 shares of the financial services provider’s stock valued at $7,072,000 after buying an additional 16,108 shares during the period. Texas Permanent School Fund increased its stake in Charles Schwab by 2.2% in the 2nd quarter. Texas Permanent School Fund now owns 199,205 shares of the financial services provider’s stock valued at $12,586,000 after buying an additional 4,204 shares during the period. Jones Financial Companies Lllp acquired a new position in Charles Schwab in the 2nd quarter valued at approximately $26,000. Finally, Hamel Associates Inc. increased its stake in shares of Charles Schwab by 192.1% during the 2nd quarter. Hamel Associates Inc. now owns 12,460 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 8,195 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SCHW shares. Citigroup started coverage on shares of Charles Schwab in a research note on Tuesday, October 11th. They set a “neutral” rating and a $83.00 price target on the stock. Jefferies Financial Group increased their price target on shares of Charles Schwab from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $92.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. UBS Group increased their price target on shares of Charles Schwab from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, September 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $95.00 to $100.00 in a research note on Friday, October 28th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.83.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 31,950 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $80.01, for a total value of $2,556,319.50. Following the completion of the sale, the director now directly owns 596,456 shares of the company’s stock, valued at approximately $47,722,444.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 31,950 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $80.01, for a total transaction of $2,556,319.50. Following the completion of the transaction, the director now directly owns 596,456 shares of the company’s stock, valued at approximately $47,722,444.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Craig sold 4,019 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $79.08, for a total transaction of $317,822.52. The disclosure for this sale can be found here. Insiders sold a total of 337,193 shares of company stock valued at $26,802,462 in the last ninety days. Company insiders own 7.50% of the company’s stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $78.36 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.41 and a quick ratio of 0.41. The Charles Schwab Co. has a fifty-two week low of $59.35 and a fifty-two week high of $96.24. The firm has a fifty day moving average price of $73.84 and a two-hundred day moving average price of $69.22. The company has a market cap of $142.29 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 0.89 and a beta of 1.00.

Charles Schwab (NYSE:SCHWGet Rating) last issued its quarterly earnings results on Monday, October 17th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. Charles Schwab had a net margin of 34.02% and a return on equity of 18.96%. The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the firm earned $0.84 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Analysts expect that The Charles Schwab Co. will post 3.92 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, November 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 26.75%.

About Charles Schwab

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The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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