The Charles Schwab Corporation $SCHW Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in The Charles Schwab Corporation (NYSE:SCHW) by 2,112.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,793 shares of the financial services provider’s stock after buying an additional 173,577 shares during the period. Federated Hermes Inc.’s holdings in Charles Schwab were worth $16,587,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab in the first quarter valued at approximately $31,000. Finally, Activest Wealth Management grew its holdings in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SCHW. TD Cowen raised their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Bank of America increased their price target on shares of Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a report on Wednesday. UBS Group set a $119.00 price objective on shares of Charles Schwab in a research note on Thursday. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.58.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The stock was 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 of the company’s stock, valued at $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $95.78 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $93.72 and its 200 day moving average price is $93.31. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The stock has a market cap of $170.19 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 0.84 and a beta of 0.96.

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

Charles Schwab Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab 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.