Benjamin Edwards Inc. Buys 5,937 Shares of The Charles Schwab Co. (NYSE:SCHW)

Benjamin Edwards Inc. boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 2,840.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,146 shares of the financial services provider’s stock after purchasing an additional 5,937 shares during the period. Benjamin Edwards Inc.’s holdings in Charles Schwab were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. RFG Advisory LLC boosted its holdings in shares of Charles Schwab by 7.4% in the second quarter. RFG Advisory LLC now owns 8,806 shares of the financial services provider’s stock worth $649,000 after buying an additional 610 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Charles Schwab by 26.0% during the 2nd quarter. Diversified Trust Co now owns 7,737 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 1,595 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of Charles Schwab by 2.7% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 15,519 shares of the financial services provider’s stock valued at $1,144,000 after acquiring an additional 405 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of Charles Schwab by 7.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 25,163 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its holdings in Charles Schwab by 69.3% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 7,810 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 3,196 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup cut their price target 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 shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Jefferies Financial Group lifted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday. Raymond James dropped their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average price target of $78.81.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,968 shares of company stock worth $9,419,271 in the last three months. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW opened at $81.50 on Tuesday. The company has a market capitalization of $145.04 billion, a P/E ratio of 31.84, a P/E/G ratio of 1.77 and a beta of 0.96. The business’s 50-day moving average is $74.41 and its 200 day moving average is $70.16. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12 month low of $59.67 and a 12 month high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.12 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 22nd. Shareholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab’s payout ratio is currently 39.06%.

Charles Schwab 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.