Lincoln National Corp Has $797,000 Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Posted by Defense World Staff on Jul 24th, 2023

Lincoln National Corp grew its position in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 152.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,224 shares of the financial services provider’s stock after purchasing an additional 9,197 shares during the period. Lincoln National Corp’s holdings in Charles Schwab were worth $797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in shares of Charles Schwab by 19.1% during the 4th quarter. Fifth Third Bancorp now owns 203,986 shares of the financial services provider’s stock valued at $16,984,000 after acquiring an additional 32,653 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Charles Schwab by 39.4% in the first quarter. Chicago Partners Investment Group LLC now owns 25,007 shares of the financial services provider’s stock valued at $1,328,000 after purchasing an additional 7,073 shares during the period. Avantax Planning Partners Inc. lifted its stake in shares of Charles Schwab by 53.7% in the first quarter. Avantax Planning Partners Inc. now owns 7,724 shares of the financial services provider’s stock worth $405,000 after buying an additional 2,697 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Charles Schwab by 1.7% during the 4th quarter. ProShare Advisors LLC now owns 325,162 shares of the financial services provider’s stock worth $27,073,000 after buying an additional 5,432 shares during the period. Finally, Koshinski Asset Management Inc. grew its stake in Charles Schwab by 176.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 21,275 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 13,582 shares during the last quarter. 82.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SCHW shares. JPMorgan Chase & Co. decreased their price target on shares of Charles Schwab from $86.00 to $85.00 in a report on Tuesday, April 18th. Citigroup lifted their price target on Charles Schwab from $65.00 to $75.00 in a research report on Wednesday, July 19th. JMP Securities increased their price objective on Charles Schwab from $73.00 to $77.00 in a research report on Wednesday, July 19th. Argus boosted their target price on shares of Charles Schwab from $70.00 to $81.00 in a research report on Wednesday, July 19th. Finally, Piper Sandler decreased their price target on shares of Charles Schwab from $75.00 to $69.00 in a research report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.91.

Charles Schwab Stock Performance

Charles Schwab stock opened at $66.48 on Monday. The firm has a market capitalization of $117.61 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.84 and a beta of 0.88. The stock has a fifty day moving average price of $55.70 and a two-hundred day moving average price of $62.29. The Charles Schwab Co. has a 52-week low of $45.00 and a 52-week high of $86.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.38.

Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.61 billion. Charles Schwab had a net margin of 33.15% and a return on equity of 27.81%. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 earnings per share. As a group, analysts anticipate that The Charles Schwab Co. will post 3.26 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were given a $0.25 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.00 annualized dividend and a yield of 1.50%. Charles Schwab’s payout ratio is 29.15%.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 77,640 shares of Charles Schwab stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $51.76, for a total value of $4,018,646.40. Following the completion of the transaction, the chairman now directly owns 59,771,278 shares of the company’s stock, valued at $3,093,761,349.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.60% of the company’s stock.

Charles Schwab Profile

(Free Report)

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services.