13,752 Shares in The Charles Schwab Corporation $SCHW Acquired by Asset One Wealth Management LLC

Key Points

• Asset One Wealth Management opened a position in Charles Schwab, acquiring 13,752 shares valued at approximately $1.34 million in the third quarter. Institutional investors collectively own 84.38% of the company.
• Charles Schwab reported quarterly earnings of $1.69 per share, beating estimates of $1.66, while revenue of $7.17 billion came in slightly below expectations. Revenue rose 16.9% year over year.
• Insiders sold 278,574 shares worth about $31.3 million over the past three months. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $119.91.

Asset One Wealth Management LLC acquired a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,752 shares of the financial services provider's stock, valued at approximately $1,344,000.

A number of other large investors also recently modified their holdings of SCHW. Bank of New York Mellon Corp grew its holdings in Charles Schwab by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider's stock worth $1,518,913,000 after buying an additional 3,009,884 shares in the last quarter. Bank of America Corp DE raised its position in Charles Schwab by 3.5% in the 1st quarter. Bank of America Corp DE now owns 15,623,030 shares of the financial services provider's stock valued at $1,468,252,000 after buying an additional 530,191 shares during the last quarter. Flossbach Von Storch SE bought a new position in Charles Schwab during the 2nd quarter valued at $987,930,000. Dimensional Fund Advisors LP lifted its stake in Charles Schwab by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,742,934 shares of the financial services provider's stock valued at $539,705,000 after acquiring an additional 60,979 shares in the last quarter. Finally, Provident Trust Co. lifted its stake in Charles Schwab by 0.4% during the 2nd quarter. Provident Trust Co. now owns 3,716,441 shares of the financial services provider's stock valued at $342,916,000 after acquiring an additional 13,616 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 1,000 shares of Charles Schwab stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the sale, the insider owned 10,738 shares of the company's stock, valued at approximately $1,195,461.54. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 24,778 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $109.01, for a total value of $2,701,049.78. Following the completion of the transaction, the insider owned 57,972 shares in the company, valued at approximately $6,319,527.72. The trade was a 29.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 278,574 shares of company stock valued at $31,302,606 in the last three months. Insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 1.1%

Shares of Charles Schwab stock opened at $91.56 on Friday. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $114.53. The firm has a market cap of $158.33 billion, a PE ratio of 15.62, a P/E/G ratio of 0.81 and a beta of 0.77. The stock has a fifty day moving average price of $98.51 and a 200-day moving average price of $97.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.18 billion. Charles Schwab had a net margin of 39.33% and a return on equity of 25.79%. The firm's quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS. Equities research analysts anticipate that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, November 13th. Charles Schwab's payout ratio is presently 21.84%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Charles Schwab from $128.00 to $129.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Morgan Stanley dropped their price target on shares of Charles Schwab from $141.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 21st. The Goldman Sachs Group restated a "buy" rating and set a $117.00 price target (down from $122.00) on shares of Charles Schwab in a report on Friday, October 16th. UBS Group reduced their price objective on shares of Charles Schwab from $113.00 to $109.00 and set a "buy" rating for the company in a research report on Friday, October 16th. Finally, Bank of America increased their price objective on shares of Charles Schwab from $91.00 to $95.00 and gave the company an "underperform" rating in a research note on Monday, October 5th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus price target of $119.91.

Charles Schwab Company Profile

The Charles Schwab Corporation is a financial services company that provides brokerage, banking, wealth management, and investment services. Its offerings include brokerage accounts, trading and research tools, retirement products, banking services, and investment advice for individuals, as well as services for independent financial advisors, employers, and institutions.

Founded in 1971 by Charles R. Schwab, the company helped popularize discount brokerage services. It expanded its brokerage business with the 2020 acquisition of TD Ameritrade, whose trading platform and services became part of Schwab.

Based in Westlake, Texas, Schwab primarily serves clients in the United States and also has an international presence.

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