University of Texas Texas AM Investment Management Co. Buys 40,730 Shares of The Charles Schwab Corporation $SCHW

Key Points

• University of Texas Texas AM Investment Management Co. increased its Charles Schwab stake 49% in the third quarter, adding 40,730 shares to hold 123,855 shares valued at about $12.1 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $119.91; 18 analysts rate the stock Buy, five Hold, and one Sell.
• Schwab beat quarterly EPS estimates, reporting $1.69 per share versus $1.66 expected, while revenue rose 16.9% year over year. The company also declared a quarterly dividend of $0.32 per share.

University of Texas Texas AM Investment Management Co. grew its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 49.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,855 shares of the financial services provider's stock after buying an additional 40,730 shares during the period. Charles Schwab makes up about 1.5% of University of Texas Texas AM Investment Management Co.'s holdings, making the stock its 15th biggest holding. University of Texas Texas AM Investment Management Co.'s holdings in Charles Schwab were worth $12,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Edgemoor Investment Advisors Inc. increased its stake in Charles Schwab by 1.3% in the third quarter. Edgemoor Investment Advisors Inc. now owns 196,337 shares of the financial services provider's stock valued at $19,190,000 after acquiring an additional 2,518 shares during the last quarter. M Holdings Securities Inc. bought a new stake in Charles Schwab during the third quarter worth about $752,000. Brighton Jones LLC lifted its stake in Charles Schwab by 1.8% during the third quarter. Brighton Jones LLC now owns 42,501 shares of the financial services provider's stock worth $4,154,000 after purchasing an additional 746 shares during the last quarter. Ethic Inc. lifted its stake in Charles Schwab by 4.7% during the third quarter. Ethic Inc. now owns 213,967 shares of the financial services provider's stock worth $20,913,000 after purchasing an additional 9,628 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in shares of Charles Schwab by 3.2% in the 3rd quarter. 180 Wealth Advisors LLC now owns 46,148 shares of the financial services provider's stock worth $4,511,000 after purchasing an additional 1,450 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SCHW shares. Barclays reduced their price objective 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. JPMorgan Chase & Co. dropped their target price on Charles Schwab from $150.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, October 16th. Truist Financial set a $115.00 target price on Charles Schwab in a research note on Friday, October 16th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $111.00 price target (up from $109.00) on shares of Charles Schwab in a research report on Friday, October 16th. Finally, Compass Point lifted their price target on shares of Charles Schwab from $135.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $119.91.

Insider Buying and Selling at Charles Schwab

In other news, insider Dennis Howard sold 2,198 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $110.00, for a total transaction of $241,780.00. Following the transaction, the insider directly owned 6,980 shares of the company's stock, valued at approximately $767,800. The trade was a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 company's 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 transaction, the insider owned 10,738 shares of the company's stock, valued at approximately $1,195,461.54. This represents a 8.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 253,796 shares of company stock valued at $28,601,556 in the last 90 days. Insiders own 6.30% of the company's stock.

Charles Schwab Stock Up 0.1%

Shares of NYSE SCHW opened at $91.56 on Monday. 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 Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The firm's fifty day moving average is $98.51 and its 200 day moving average is $97.39. The company has a market cap of $158.33 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 0.81 and a beta of 0.77.

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

Charles Schwab Announces Dividend

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

About Charles Schwab

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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