Concord Wealth Partners Acquires 1,031 Shares of The Charles Schwab Co. (NYSE:SCHW)

Concord Wealth Partners increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 106.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,998 shares of the financial services provider’s stock after buying an additional 1,031 shares during the quarter. Concord Wealth Partners’ holdings in Charles Schwab were worth $129,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of research analyst reports. Barclays increased their price target on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price target on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. UBS Group reduced their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. 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. Finally, Piper Sandler upped their target price on shares of Charles Schwab from $64.00 to $65.00 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Price Performance

Charles Schwab stock opened at $72.05 on Tuesday. The firm has a market capitalization of $128.05 billion, a P/E ratio of 30.15, a PEG ratio of 1.65 and a beta of 0.97. The business has a 50-day moving average of $65.85 and a 200-day moving average of $69.49. 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 Charles Schwab Co. has a 1 year low of $49.71 and a 1 year high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results 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. The firm 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 business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

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 paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s payout ratio is 41.84%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the transaction, the director now owns 562,129 shares in the company, valued at $36,594,597.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,001 shares of company stock worth $12,512,592 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

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.