Allspring Global Investments Holdings LLC Boosts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Allspring Global Investments Holdings LLC increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 11.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 740,592 shares of the financial services provider’s stock after purchasing an additional 78,712 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Charles Schwab were worth $47,998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Country Trust Bank purchased a new stake in shares of Charles Schwab in the second quarter worth about $26,000. American Capital Advisory LLC purchased a new stake in Charles Schwab in the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC boosted its holdings in Charles Schwab by 97.5% in the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the period. CGC Financial Services LLC bought a new position in shares of Charles Schwab in the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Charles Schwab in the second quarter worth $29,000. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group decreased their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Barclays lifted their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. TD Cowen reiterated a “hold” rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Morgan Stanley reduced their target price on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.59.

Insider Activity at Charles Schwab

In other news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now owns 551,329 shares in the company, valued at $39,783,900.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,001 shares of company stock worth $12,512,592 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $70.91 on Wednesday. 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 fifty-two week low of $48.66 and a fifty-two week high of $79.49. The firm has a market cap of $126.11 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The business has a 50 day moving average price of $65.32 and a 200-day moving average price of $69.48.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Equities research analysts predict that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Company 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.