Castleark Management LLC Grows Stock Holdings in The Charles Schwab Corporation $SCHW

Castleark Management LLC lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3,556.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,240 shares of the financial services provider’s stock after acquiring an additional 332,880 shares during the quarter. Charles Schwab comprises approximately 0.9% of Castleark Management LLC’s holdings, making the stock its 24th biggest holding. Castleark Management LLC’s holdings in Charles Schwab were worth $31,226,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its holdings in shares of Charles Schwab by 2,112.7% in the 2nd quarter. Federated Hermes Inc. now owns 181,793 shares of the financial services provider’s stock worth $16,587,000 after purchasing an additional 173,577 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Charles Schwab by 26.8% in 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 buying an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC acquired a new stake in Charles Schwab in the first quarter worth $79,605,000. Figure 8 Investment Strategies LLC bought a new stake in Charles Schwab in the second quarter valued at $924,000. Finally, PFG Investments LLC boosted its holdings in shares of Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 550 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SCHW shares. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. JMP Securities restated a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Bank of America lifted their price target on Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a report on Wednesday. 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 research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.37.

Insider Activity

In other news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. The trade was a 20.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is currently owned by insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $96.63 on Friday. The stock has a market cap of $171.71 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The stock’s 50 day moving average price is $93.86 and its 200 day moving average price is $93.44.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the company posted $0.71 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.27 per share. 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 payout ratio is presently 25.29%.

About Charles Schwab

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.