Hazlett Burt & Watson Inc. Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Hazlett Burt & Watson Inc. purchased a new stake in The Charles Schwab Co. (NYSE:SCHW) during the third quarter, according to its most recent filing with the SEC. The firm purchased 514 shares of the financial services provider’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after acquiring an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Charles Schwab by 2.1% in the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after buying an additional 225,397 shares during the period. Allen Investment Management LLC lifted its position in shares of Charles Schwab by 3.0% in the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after purchasing an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after buying an additional 596,589 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.0 %

NYSE SCHW opened at $70.96 on Tuesday. The Charles Schwab Co. has a twelve month low of $53.49 and a twelve month high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock’s 50-day simple moving average is $66.52 and its two-hundred day simple moving average is $69.47. The company has a market capitalization of $126.20 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 1.63 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. Research analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Insider Buying and Selling at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,465 shares of company stock valued at $8,050,109. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent research reports. Cowen raised their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Wells Fargo & Company lifted their target price on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Charles Schwab from $77.00 to $76.00 in a research report on Tuesday, October 15th. Piper Sandler boosted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and a consensus price target of $73.94.

Charles Schwab Profile

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.