Hennion & Walsh Asset Management Inc. Buys 18,119 Shares of The Charles Schwab Co. (NYSE:SCHW)

Hennion & Walsh Asset Management Inc. raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 53.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,307 shares of the financial services provider’s stock after purchasing an additional 18,119 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Charles Schwab were worth $3,390,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in Charles Schwab by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares during the period. Darsana Capital Partners LP raised its stake in Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after acquiring an additional 2,000,000 shares during the period. Mondrian Investment Partners LTD lifted its holdings in Charles Schwab by 28,736.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock valued at $107,471,000 after purchasing an additional 1,480,485 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Charles Schwab during the first quarter worth $105,563,000. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Charles Schwab by 231.2% in the first quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock valued at $108,433,000 after purchasing an additional 1,046,322 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction 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 owns 60,619,371 shares in the company, valued at $3,946,927,245.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,001 shares of company stock valued at $12,512,592. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $72.59 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $129.01 billion, a PE ratio of 30.37, a PEG ratio of 1.63 and a beta of 0.97. The firm has a 50 day moving average of $65.45 and a 200-day moving average of $69.50. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49.

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

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Raymond James reduced their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Citigroup reduced their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Piper Sandler increased their target price on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.94.

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.