Carnegie Investment Counsel Reduces Position in The Charles Schwab Corporation $SCHW

Carnegie Investment Counsel trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 813,935 shares of the financial services provider’s stock after selling 12,404 shares during the quarter. Charles Schwab comprises approximately 1.5% of Carnegie Investment Counsel’s portfolio, making the stock its 12th largest holding. Carnegie Investment Counsel’s holdings in Charles Schwab were worth $77,706,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. ZWJ Investment Counsel Inc. lifted its position in Charles Schwab by 4.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 2,390 shares of the financial services provider’s stock worth $228,000 after buying an additional 106 shares in the last quarter. Bryn Mawr Trust Advisors LLC increased its stake in shares of Charles Schwab by 2.0% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after acquiring an additional 107 shares during the last quarter. Nicolet Bankshares Inc. increased its stake in shares of Charles Schwab by 0.8% in the 2nd quarter. Nicolet Bankshares Inc. now owns 13,049 shares of the financial services provider’s stock worth $1,191,000 after acquiring an additional 107 shares during the last quarter. First PREMIER Bank raised its holdings in shares of Charles Schwab by 23.8% during the 3rd quarter. First PREMIER Bank now owns 557 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 107 shares during the period. Finally, Marshall Financial Group LLC boosted its position in shares of Charles Schwab by 3.5% during the 3rd quarter. Marshall Financial Group LLC now owns 3,224 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 109 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

NYSE SCHW opened at $101.92 on Friday. 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 company has a market cap of $181.10 billion, a P/E ratio of 23.87, a P/E/G ratio of 0.83 and a beta of 0.96. The stock has a 50-day moving average of $94.96 and a two-hundred day moving average of $94.18. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $102.28.

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

Charles Schwab Dividend Announcement

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. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s payout ratio is 25.29%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction 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 completion of the transaction, the insider owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The shares were 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 approximately $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. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SCHW shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. UBS Group started coverage on shares of Charles Schwab in a report on Thursday, December 11th. They set a “buy” rating and a $119.00 price target for the company. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Truist Financial raised their target price on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.84.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.