Hixon Zuercher LLC Purchases 626 Shares of The Charles Schwab Co. (NYSE:SCHW)

Hixon Zuercher LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,434 shares of the financial services provider’s stock after acquiring an additional 626 shares during the period. Hixon Zuercher LLC’s holdings in Charles Schwab were worth $3,204,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SCHW. Vanguard Group Inc. lifted its position in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after acquiring an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 4.2% during 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 purchasing an additional 2,946,327 shares during the period. Legal & General Group Plc raised its holdings in shares of Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after purchasing an additional 225,397 shares during the period. Allen Investment Management LLC boosted its position in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after purchasing an additional 251,485 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Charles Schwab by 8.9% in the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock valued at $528,445,000 after buying an additional 596,589 shares during the period. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research reports. Piper Sandler upped their price target on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. JMP Securities upped their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group dropped their price objective on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Two research 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.94.

Insider Buying and Selling

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,465 shares of company stock worth $8,050,109. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $71.33 on Wednesday. The company has a market capitalization of $126.86 billion, a PE ratio of 27.86, a PEG ratio of 1.63 and a beta of 0.96. 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’s 50 day moving average price is $66.67 and its 200-day moving average price is $69.45. The Charles Schwab Co. has a twelve month low of $53.49 and a twelve month high of $79.49.

Charles Schwab (NYSE:SCHW) last posted 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. Charles Schwab had a return on equity of 17.52% 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 quarter in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.40%. 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.