Edgestream Partners L.P. Increases Position in The Charles Schwab Corporation $SCHW

Edgestream Partners L.P. lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 240.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,467 shares of the financial services provider’s stock after purchasing an additional 9,514 shares during the period. Edgestream Partners L.P.’s holdings in Charles Schwab were worth $1,229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Charles Schwab by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after acquiring an additional 2,786,829 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Geode Capital Management LLC grew its holdings in Charles Schwab by 2.9% in the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after purchasing an additional 1,038,376 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Charles Schwab by 2.8% in the second quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after buying an additional 815,625 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Charles Schwab in the second quarter valued at $1,889,858,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCHW has been the topic of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab 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. Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Truist Financial upped their target price on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Morgan Stanley increased their target price on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Down 1.1%

Shares of NYSE SCHW opened at $94.00 on Friday. The firm has a market cap of $167.03 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 0.84 and a beta of 0.96. 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 $99.59. The firm’s 50 day moving average price is $93.73 and its 200 day moving average price is $93.13.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.