Financial Consulate Inc. Acquires Shares of 11,187 The Charles Schwab Corporation $SCHW

Financial Consulate Inc. acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,187 shares of the financial services provider’s stock, valued at approximately $1,068,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 19,195 shares during the period. Focus Partners Advisor Solutions LLC lifted its holdings in Charles Schwab by 106.4% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 9,774 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 5,039 shares during the last quarter. Aprio Wealth Management LLC bought a new stake in Charles Schwab in the 1st quarter valued at $229,000. Amundi grew its holdings in Charles Schwab by 29.6% in the 1st quarter. Amundi now owns 6,030,362 shares of the financial services provider’s stock valued at $451,495,000 after buying an additional 1,378,805 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Charles Schwab by 694.1% during the 1st quarter. AQR Capital Management LLC now owns 2,358,310 shares of the financial services provider’s stock worth $182,651,000 after buying an additional 2,061,332 shares during the period. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SCHW. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. TD Cowen boosted their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, UBS Group assumed coverage on Charles Schwab in a research note on Thursday, December 11th. They issued a “buy” rating and a $119.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.84.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $100.02 on Friday. 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 has a market cap of $177.73 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. The company has a 50 day moving average of $95.42 and a 200-day moving average of $94.53. 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 announced its quarterly earnings data 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 net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period last year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total value of $204,020.00. Following the transaction, the insider owned 11,923 shares in the company, valued at $1,216,265.23. The trade was a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is owned by company insiders.

Charles Schwab Company 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.