Sumitomo Life Insurance Co. Acquires 396 Shares of The Charles Schwab Co. (NYSE:SCHW)

Sumitomo Life Insurance Co. lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.8% during the third quarter, Holdings Channel reports. The fund owned 14,666 shares of the financial services provider’s stock after buying an additional 396 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Charles Schwab were worth $951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new position in Charles Schwab during the 1st quarter worth approximately $237,000. Massmutual Trust Co. FSB ADV raised its position in shares of Charles Schwab by 18.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 4,621 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 716 shares during the period. Collective Family Office LLC lifted its holdings in shares of Charles Schwab by 29.3% in the 1st quarter. Collective Family Office LLC now owns 4,069 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 923 shares in the last quarter. Fulton Bank N.A. grew its position in Charles Schwab by 10.4% in the 1st quarter. Fulton Bank N.A. now owns 8,933 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 845 shares during the period. Finally, Wedmont Private Capital increased its stake in Charles Schwab by 12.2% during the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 1,430 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

NYSE:SCHW opened at $72.08 on Thursday. The company has a market capitalization of $128.11 billion, a P/E ratio of 30.16, a P/E/G ratio of 1.43 and a beta of 0.97. The business has a fifty day simple moving average of $64.61 and a two-hundred day simple moving average of $69.51. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year 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 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. On average, analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the sale, the insider now owns 61,887 shares in the company, valued at $4,035,032.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 1,150 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the completion of the transaction, the insider now directly owns 61,887 shares of the company’s stock, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,856 shares of company stock valued at $6,398,604. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JMP Securities boosted their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup cut their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Bank of America dropped their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, Barclays upped their target price on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.59.

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.