Pure Financial Advisors LLC Raises Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Pure Financial Advisors LLC grew its position in The Charles Schwab Co. (NYSE:SCHW) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,480 shares of the financial services provider’s stock after buying an additional 622 shares during the period. Pure Financial Advisors LLC’s holdings in Charles Schwab were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. M&G Plc acquired a new position in shares of Charles Schwab in the 1st quarter valued at $11,452,000. Teewinot Capital Advisers L.L.C. boosted its stake in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after buying an additional 64,041 shares during the period. Iowa State Bank increased its position in shares of Charles Schwab by 37.9% during the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after acquiring an additional 7,829 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Charles Schwab by 8.3% in the 1st quarter. Orion Portfolio Solutions LLC now owns 134,897 shares of the financial services provider’s stock valued at $9,758,000 after acquiring an additional 10,393 shares during the period. Finally, Fiduciary Financial Group LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at approximately $3,697,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SCHW. Jefferies Financial Group decreased their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Raymond James lowered their target price on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Piper Sandler raised their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, UBS Group reduced their target price on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.94.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred 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 directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

SCHW stock opened at $70.94 on Monday. The business has a 50 day moving average price of $66.39 and a 200 day moving average price of $69.48. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $126.16 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.62 and a beta of 0.96. The Charles Schwab Co. has a fifty-two week low of $53.49 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last issued 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. Equities research analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, November 8th. Charles Schwab’s payout ratio is 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.