Vestmark Advisory Solutions Inc. Purchases 3,039 Shares of The Charles Schwab Co. (NYSE:SCHW)

Posted by Defense World Staff on Apr 1st, 2023

Vestmark Advisory Solutions Inc. raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 19.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 18,757 shares of the financial services provider’s stock after purchasing an additional 3,039 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Charles Schwab were worth $1,562,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in Charles Schwab by 2.1% in the third quarter. Vanguard Group Inc. now owns 124,437,061 shares of the financial services provider’s stock worth $8,943,291,000 after purchasing an additional 2,589,952 shares in the last quarter. State Street Corp grew its position in shares of Charles Schwab by 1.1% during the 3rd quarter. State Street Corp now owns 65,566,364 shares of the financial services provider’s stock valued at $4,712,255,000 after acquiring an additional 717,683 shares during the period. Alliancebernstein L.P. grew its position in shares of Charles Schwab by 7.4% during the 3rd quarter. Alliancebernstein L.P. now owns 20,767,564 shares of the financial services provider’s stock valued at $1,492,565,000 after acquiring an additional 1,431,879 shares during the period. Nuveen Asset Management LLC boosted its holdings in Charles Schwab by 0.4% in the 3rd quarter. Nuveen Asset Management LLC now owns 17,076,247 shares of the financial services provider’s stock worth $1,227,270,000 after buying an additional 68,423 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in Charles Schwab in the 3rd quarter worth about $1,109,194,000. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Charles Schwab news, CEO Walter W. Bettinger bought 50,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was bought at an average cost of $59.31 per share, with a total value of $2,965,500.00. Following the completion of the transaction, the chief executive officer now directly owns 656,501 shares of the company’s stock, valued at approximately $38,937,074.31. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Todd M. Ricketts bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The stock was purchased at an average cost of $56.79 per share, for a total transaction of $567,900.00. Following the purchase, the director now directly owns 230,892 shares in the company, valued at $13,112,356.68. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Walter W. Bettinger acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, March 14th. The stock was acquired at an average price of $59.31 per share, with a total value of $2,965,500.00. Following the purchase, the chief executive officer now owns 656,501 shares in the company, valued at approximately $38,937,074.31. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 81,000 shares of company stock worth $4,706,960 and have sold 728,106 shares worth $58,067,403. 7.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research reports. StockNews.com started coverage on shares of Charles Schwab in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $88.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, January 12th. UBS Group upped their target price on shares of Charles Schwab from $90.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, January 9th. The Goldman Sachs Group decreased their target price on shares of Charles Schwab from $98.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, March 14th. Finally, Citigroup decreased their target price on shares of Charles Schwab from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.50.

Charles Schwab Stock Down 0.2 %

NYSE SCHW opened at $52.38 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.38 and a quick ratio of 0.38. The company’s 50 day simple moving average is $70.97 and its 200 day simple moving average is $75.37. The Charles Schwab Co. has a 12 month low of $45.00 and a 12 month high of $93.16. The company has a market capitalization of $93.84 billion, a P/E ratio of 14.97, a PEG ratio of 1.33 and a beta of 0.93.

Charles Schwab (NYSE:SCHW – Get Rating) last released its earnings results on Wednesday, January 18th. The financial services provider reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Charles Schwab had a return on equity of 24.94% and a net margin of 34.60%. The business had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts expect that The Charles Schwab Co. will post 4.11 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.22. Charles Schwab’s payout ratio is currently 28.57%.

About Charles Schwab

(Get Rating)

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.