Nemes Rush Group LLC Buys 23,000 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Nemes Rush Group LLC increased its Charles Schwab stake by 17,968.8% in the third quarter, buying 23,000 shares to hold 23,128 shares valued at about $2.26 million.
• Institutional investors collectively own 84.38% of Schwab shares, while company insiders sold 253,796 shares worth approximately $28.6 million over the past three months.
• Schwab beat quarterly earnings-per-share estimates ($1.69 versus $1.66), with revenue up 16.9% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $119.91.

Nemes Rush Group LLC grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 17,968.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,128 shares of the financial services provider's stock after purchasing an additional 23,000 shares during the quarter. Nemes Rush Group LLC's holdings in Charles Schwab were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of SCHW. Gryphon Financial Partners LLC lifted its holdings in shares of Charles Schwab by 6.5% in the 3rd quarter. Gryphon Financial Partners LLC now owns 7,158 shares of the financial services provider's stock valued at $700,000 after purchasing an additional 440 shares during the last quarter. M&G PLC boosted its position in shares of Charles Schwab by 0.8% in the 3rd quarter. M&G PLC now owns 146,314 shares of the financial services provider's stock valued at $14,339,000 after purchasing an additional 1,127 shares during the period. AlphaCore Capital LLC boosted its position in shares of Charles Schwab by 95.3% in the 3rd quarter. AlphaCore Capital LLC now owns 12,605 shares of the financial services provider's stock valued at $1,232,000 after purchasing an additional 6,151 shares during the period. Fulcrum Asset Management LLP purchased a new position in Charles Schwab during the 3rd quarter worth approximately $190,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Charles Schwab by 5.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 649,548 shares of the financial services provider's stock worth $63,896,000 after buying an additional 32,395 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 1,000 shares of the firm's stock in a transaction 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 completion of the sale, the insider owned 10,738 shares in the company, valued at approximately $1,195,461.54. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis Howard sold 2,198 shares of Charles Schwab stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $110.00, for a total transaction of $241,780.00. Following the completion of the sale, the insider directly owned 6,980 shares in the company, valued at approximately $767,800. The trade was a 23.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 253,796 shares of company stock valued at $28,601,556. 6.30% of the stock is owned by company insiders.

Key Headlines Impacting Charles Schwab

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

• Positive Sentiment: Schwab lowered account minimums for clients seeking IPO shares, potentially making IPO access available to more customers and helping attract or retain brokerage accounts. Read More.
• Positive Sentiment: The company expanded Schwab Crypto trading to Solana, Avalanche and Chainlink, beyond Bitcoin and Ether. Broader product choice and competitive trading fees could attract customers and increase engagement, though the financial contribution is not yet clear. Read More.
• Neutral Sentiment: Schwab’s Trading Activity Index rose to 61.94 in October from 58.92 in September, indicating increased retail trading activity and more interest in individual stocks. This may support transaction activity, but the index alone does not show the effect on revenue. Read More.
• Negative Sentiment: Schwab cited accounting uncertainty around client cryptocurrency holdings, which could create financial-reporting and regulatory risks as its crypto business grows. Read More.

Wall Street Analyst Weigh In

SCHW has been the topic of several research analyst reports. Barclays cut their price target on Charles Schwab from $118.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, October 16th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $111.00 price objective (up from $109.00) on shares of Charles Schwab in a report on Friday, October 16th. Piper Sandler lowered their target price on shares of Charles Schwab from $118.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Citizens Jmp reaffirmed a "market outperform" rating and issued a $120.00 target price on shares of Charles Schwab in a report on Friday, October 16th. Finally, Zacks Research downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Eighteen investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.91.

Charles Schwab Stock Up 1.4%

SCHW opened at $92.78 on Tuesday. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The business has a 50 day moving average price of $98.16 and a two-hundred day moving average price of $97.35. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The company has a market cap of $160.45 billion, a PE ratio of 15.83, a P/E/G ratio of 0.83 and a beta of 0.77.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 25.79% and a net margin of 39.33%. The company's revenue was up 16.9% on a year-over-year basis. During the same period last year, the business posted $1.31 EPS. As a group, research analysts anticipate that The Charles Schwab Corporation will post 6.41 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given 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 dividend payout ratio (DPR) is 21.84%.

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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