The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Desjardins Global Asset Management Inc.

Posted by Defense World Staff on Jul 25th, 2023

Desjardins Global Asset Management Inc. lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 139.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,521 shares of the financial services provider’s stock after acquiring an additional 7,282 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Charles Schwab were worth $656,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC bought a new position in Charles Schwab during the 1st quarter worth $25,000. Your Advocates Ltd. LLP bought a new stake in Charles Schwab in the first quarter valued at $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Charles Schwab during the first quarter valued at $30,000. Carolina Wealth Advisors LLC grew its position in shares of Charles Schwab by 54.8% during the first quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Finally, Rocky Mountain Advisers LLC lifted its position in Charles Schwab by 704.2% in the 1st quarter. Rocky Mountain Advisers LLC now owns 571 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. 82.77% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In related news, Chairman Charles R. Schwab sold 77,640 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $51.76, for a total transaction of $4,018,646.40. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is currently owned by insiders.

Charles Schwab Trading Up 0.1 %

Shares of SCHW opened at $66.56 on Tuesday. The business’s 50-day moving average price is $56.02 and its 200 day moving average price is $62.17. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $117.75 billion, a P/E ratio of 19.41, a P/E/G ratio of 3.84 and a beta of 0.88. The Charles Schwab Co. has a 1-year low of $45.00 and a 1-year high of $86.63.

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

Charles Schwab Dividend Announcement

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

Analysts Set New Price Targets

SCHW has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Charles Schwab from $65.00 to $75.00 in a research report on Wednesday, July 19th. Redburn Partners cut Charles Schwab from a “neutral” rating to a “sell” rating in a research report on Thursday, April 20th. Keefe, Bruyette & Woods cut their target price on Charles Schwab from $89.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Barclays increased their price target on Charles Schwab from $62.00 to $70.00 in a research note on Wednesday, July 19th. Finally, Bank of America increased their target price on shares of Charles Schwab from $46.00 to $53.00 in a research report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.91.

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.