Skandinaviska Enskilda Banken AB publ Increases Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,290 shares of the financial services provider’s stock after buying an additional 6,507 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Charles Schwab were worth $22,202,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in Charles Schwab by 98.0% in the 4th 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% in the 1st 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Charles Schwab in the 1st quarter worth approximately $105,563,000. Finally, Wellington Management Group LLP lifted its stake in 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 worth $802,800,000 after purchasing an additional 1,373,223 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Walter W. Bettinger bought 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the transaction, the chief executive officer now owns 827,377 shares in the company, valued at approximately $54,822,000.02. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock valued at $6,457,104 in the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW stock 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 52 week low of $48.66 and a 52 week high of $79.49. The firm’s fifty day moving average is $64.28 and its 200 day moving average is $69.93. The firm has a market cap of $116.27 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.19 and a beta of 0.97.

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

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given 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 yield of 1.53%. Charles Schwab’s payout ratio is currently 41.84%.

Wall Street Analyst Weigh In

SCHW has been the topic of several recent analyst reports. JMP Securities lowered their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 23rd. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $64.00 in a report on Monday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group increased their price target on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Finally, Morgan Stanley decreased their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.75.

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.