Carnegie Investment Counsel Sells 22,004 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Carnegie Investment Counsel reduced its Charles Schwab stake by 3%, selling 22,004 shares and retaining 723,868 shares valued at approximately $68.7 million. Institutional investors collectively own 84.38% of SCHW.
• Analyst sentiment remains positive overall, with 18 Buy ratings, five Holds and one Sell; the consensus rating is Moderate Buy with a $120.59 price target.
• Charles Schwab reported quarterly EPS of $1.69, exceeding estimates by $0.03, while revenue rose 16.9% year over year to $7.17 billion. The company also pays a quarterly dividend of $0.32 per share, representing a 1.4% yield.

Carnegie Investment Counsel cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 723,868 shares of the financial services provider's stock after selling 22,004 shares during the period. Charles Schwab accounts for about 1.3% of Carnegie Investment Counsel's investment portfolio, making the stock its 15th biggest holding. Carnegie Investment Counsel's holdings in Charles Schwab were worth $68,718,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Flossbach Von Storch SE bought a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $987,930,000. Bank of New York Mellon Corp raised its position 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 acquiring an additional 3,009,884 shares in the last quarter. Danske Bank A S bought a new stake in Charles Schwab during the second quarter worth $145,950,000. Assenagon Asset Management S.A. lifted its stake in Charles Schwab by 67.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,923,270 shares of the financial services provider's stock valued at $285,720,000 after acquiring an additional 1,179,312 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Charles Schwab by 63.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,786,512 shares of the financial services provider's stock valued at $261,876,000 after acquiring an additional 1,081,382 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial set a $115.00 price objective on shares of Charles Schwab in a research report on Friday. Bank of America upped their target price on shares of Charles Schwab from $91.00 to $95.00 and gave the company an "underperform" rating in a report on Monday, October 5th. UBS Group dropped their target price on shares of Charles Schwab from $113.00 to $109.00 and set a "buy" rating on the stock in a report on Friday. Compass Point raised their target price on shares of Charles Schwab from $135.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, October 6th. Finally, Citigroup reiterated a "market outperform" rating on shares of Charles Schwab in a report on Friday. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.59.

More Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Charles Schwab reportedly delivered record revenue, reinforcing the company’s earnings-growth story. Its latest quarterly results also showed year-over-year revenue growth and an EPS beat, which may support investor confidence. Charles Schwab reports record revenue
• Positive Sentiment: New product activity, including the addition of an international bond ETF, expands Schwab’s investment lineup and could help attract or retain client assets. Charles Schwab Added an International Bond ETF
• Positive Sentiment: Some investment commentary continues to identify SCHW as a preferred financial-sector idea, pointing to its business quality and long-term earnings potential. Schwab: One of My Best Ideas in Financials
• Neutral Sentiment: Schwab and other major banks are restricting outside AI agents from moving money or executing account actions because of fraud, security and liability concerns. The policy limits near-term automation opportunities but may reduce operational and regulatory risks. The Banks Locked Agents Out
• Neutral Sentiment: Plans involving long-short investing products could broaden Schwab’s offerings, though coverage raises questions about competition and how successfully the firm can differentiate the strategy. Schwab’s long-short plans raise questions about competition
• Negative Sentiment: Deutsche Bank, Evercore and BMO Capital Markets all lowered their SCHW price targets. BMO assigned a “market perform” rating, signaling more limited near-term upside despite the revised targets remaining above the current share price. Deutsche Bank cuts target for Charles Schwab

Charles Schwab Trading Up 1.4%

Shares of Charles Schwab stock opened at $90.87 on Wednesday. The business has a fifty day simple moving average of $103.79 and a two-hundred day simple moving average of $98.14. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $114.53. The company has a market capitalization of $157.14 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 0.79 and a beta of 0.79. 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 released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. Charles Schwab had a net margin of 39.33% and a return on equity of 25.79%. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.18 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The company's quarterly revenue was up 16.9% on a year-over-year basis. Research analysts forecast that The Charles Schwab Corporation will post 6.43 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, August 14th. Charles Schwab's dividend payout ratio (DPR) is currently 21.84%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,778 shares of the stock in a transaction dated 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 transaction, the insider directly owned 57,972 shares of the company's stock, valued at $6,319,527.72. This represents a 29.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 1,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $111.33, for a total transaction of $111,330.00. Following the completion of the transaction, the insider directly owned 10,738 shares in the company, valued at approximately $1,195,461.54. This represents a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 639,529 shares of company stock worth $68,923,436 in the last ninety days. Insiders own 6.30% of the company's stock.

Charles Schwab Profile

The Charles Schwab Corporation NYSE: SCHW is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.

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