Thrivent Financial for Lutherans Acquires 30,897 Shares of The Charles Schwab Co. (NYSE:SCHW)

Thrivent Financial for Lutherans boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,955,289 shares of the financial services provider’s stock after buying an additional 30,897 shares during the period. Thrivent Financial for Lutherans’ holdings in Charles Schwab were worth $144,085,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares during the period. Morningstar Investment Services LLC raised its position in Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after purchasing an additional 2,322,156 shares in the last quarter. Mondrian Investment Partners LTD lifted its stake in Charles Schwab by 28,736.1% during the first quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after purchasing an additional 1,480,485 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Charles Schwab during the first quarter valued at approximately $105,563,000. Finally, Wellington Management Group LLP grew its stake in shares of Charles Schwab by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock valued at $802,800,000 after purchasing an additional 1,373,223 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Thursday, August 22nd. UBS Group lowered their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. JMP Securities lowered their price objective on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $73.75.

Charles Schwab Stock Performance

Shares of SCHW opened at $65.38 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The firm has a market cap of $116.27 billion, a P/E ratio of 27.36, a PEG ratio of 1.19 and a beta of 0.97. The firm’s 50 day moving average price is $64.28 and its two-hundred day moving average price is $69.93.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. On average, analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insiders Place Their Bets

In other news, President Richard A. Wurster purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was acquired at an average cost of $62.05 per share, with a total value of $620,500.00. Following the acquisition, the president now owns 144,228 shares in the company, valued at approximately $8,949,347.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Richard A. Wurster bought 10,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were purchased at an average cost of $62.05 per share, with a total value of $620,500.00. Following the acquisition, the president now directly owns 144,228 shares in the company, valued at $8,949,347.40. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,355,175. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock valued at $6,457,104 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

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.