Vancity Investment Management Ltd Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Vancity Investment Management Ltd grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 27.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,503 shares of the financial services provider’s stock after buying an additional 52,780 shares during the quarter. Charles Schwab comprises 1.8% of Vancity Investment Management Ltd’s investment portfolio, making the stock its 21st biggest holding. Vancity Investment Management Ltd’s holdings in Charles Schwab were worth $12,964,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Beacon Capital Management LLC acquired a new stake in shares of Charles Schwab in the 1st quarter valued at approximately $25,000. Your Advocates Ltd. LLP acquired a new stake in shares of Charles Schwab in the 1st quarter valued at approximately $25,000. Carolina Wealth Advisors LLC lifted its holdings in shares of Charles Schwab by 54.8% in the 1st quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $30,000 after buying an additional 200 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Charles Schwab in the 1st quarter valued at approximately $30,000. Finally, Rocky Mountain Advisers LLC raised its holdings in Charles Schwab by 704.2% during the first quarter. Rocky Mountain Advisers LLC now owns 571 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 500 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SCHW shares. JMP Securities lifted their price objective on Charles Schwab from $73.00 to $77.00 in a report on Wednesday, July 19th. Raymond James raised Charles Schwab from a “market perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a report on Monday, May 15th. Jefferies Financial Group lifted their price objective on Charles Schwab from $64.00 to $66.00 in a report on Monday, July 10th. Barclays lifted their price objective on Charles Schwab from $62.00 to $70.00 in a report on Wednesday, July 19th. Finally, Piper Sandler lifted their price objective on Charles Schwab from $77.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.09.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $59.61, for a total transaction of $476,880.00. Following the completion of the sale, the general counsel now owns 8,014 shares of the company’s stock, valued at $477,714.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Charles Schwab news, General Counsel Peter J. Morgan III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $59.61, for a total transaction of $476,880.00. Following the completion of the sale, the general counsel now owns 8,014 shares of the company’s stock, valued at $477,714.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles A. Ruffel acquired 833 shares of Charles Schwab stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $60.55 per share, for a total transaction of $50,438.15. Following the purchase, the director now owns 3,386 shares of the company’s stock, valued at $205,022.30. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 155,807 shares of company stock valued at $10,325,149. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $59.30 on Friday. The company has a market cap of $104.97 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.95 and a beta of 0.92. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. The Charles Schwab Co. has a 52 week low of $45.00 and a 52 week high of $86.63. The business has a fifty day simple moving average of $61.44 and a 200-day simple moving average of $58.09.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.61 billion. Charles Schwab had a return on equity of 27.54% and a net margin of 33.15%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities research analysts forecast that The Charles Schwab Co. will post 3.27 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Thursday, August 10th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.15%.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services.