M&G Plc Buys 5,600 Shares of The Charles Schwab Co. (NYSE:SCHW)

M&G Plc increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 146,129 shares of the financial services provider’s stock after purchasing an additional 5,600 shares during the quarter. M&G Plc’s holdings in Charles Schwab were worth $9,498,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Country Trust Bank purchased a new position in shares of Charles Schwab in the second quarter worth about $26,000. American Capital Advisory LLC bought a new stake in Charles Schwab during the 2nd quarter valued at $27,000. Fortitude Family Office LLC grew its position in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. CGC Financial Services LLC purchased a new stake in shares of Charles Schwab in the second quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Charles Schwab in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 3.5 %

Shares of Charles Schwab stock opened at $73.10 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 52-week low of $53.49 and a 52-week high of $79.49. The company’s 50 day moving average price is $66.90 and its 200-day moving average price is $69.49. The stock has a market capitalization of $130.00 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 1.63 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion for 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 company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. Equities research analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given 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 dividend yield of 1.37%. Charles Schwab’s dividend payout ratio is currently 39.06%.

Analysts Set New Price Targets

Several research firms have issued reports on SCHW. Cowen increased their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. TD Cowen reissued a “hold” rating and set a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. The Goldman Sachs Group raised their price target on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America cut their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.94.

Insider Activity

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

Charles Schwab Company 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.