WealthPlan Investment Management LLC Purchases Shares of 5,413 The Charles Schwab Co. (NYSE:SCHW)

WealthPlan Investment Management LLC acquired a new position in The Charles Schwab Co. (NYSE:SCHW) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,413 shares of the financial services provider’s stock, valued at approximately $351,000.

Several other institutional investors have also modified their holdings of SCHW. Price T Rowe Associates Inc. MD raised its holdings 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 worth $5,230,657,000 after purchasing an additional 2,946,327 shares in the last quarter. Darsana Capital Partners LP increased its holdings in shares of Charles Schwab by 200.0% in the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after buying an additional 2,000,000 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in shares of Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after acquiring an additional 1,644,931 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Charles Schwab during the 1st quarter worth $105,563,000. Finally, Westwood Holdings Group Inc. raised its position 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 purchasing an additional 1,046,322 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.4 %

Charles Schwab stock opened at $78.20 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The Charles Schwab Co. has a fifty-two week low of $53.60 and a fifty-two week high of $79.49. The firm has a fifty day moving average price of $67.50 and a two-hundred day moving average price of $69.46. The firm has a market cap of $139.17 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 1.78 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. As a group, analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current 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 given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Activity

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the business’s 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 of the company’s stock, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on 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 completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,965 shares of company stock worth $8,242,659. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of several recent analyst reports. Raymond James decreased their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. The Goldman Sachs Group raised their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup lowered their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Finally, Morgan Stanley raised their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.18.

Charles Schwab Company 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.