Van ECK Associates Corp Has $231.82 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Van ECK Associates Corp raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 15.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,232,736 shares of the financial services provider’s stock after purchasing an additional 439,398 shares during the quarter. Van ECK Associates Corp owned 0.18% of Charles Schwab worth $231,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Whitener Capital Management Inc. increased its stake in Charles Schwab by 25.7% during the 3rd quarter. Whitener Capital Management Inc. now owns 10,850 shares of the financial services provider’s stock valued at $703,000 after purchasing an additional 2,218 shares in the last quarter. Prosperitas Financial LLC increased its stake in Charles Schwab by 9.9% during the 3rd quarter. Prosperitas Financial LLC now owns 3,748 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 337 shares in the last quarter. Baxter Bros Inc. increased its stake in Charles Schwab by 3.3% during the 3rd quarter. Baxter Bros Inc. now owns 45,714 shares of the financial services provider’s stock valued at $2,963,000 after purchasing an additional 1,449 shares in the last quarter. Pure Financial Advisors LLC increased its stake in Charles Schwab by 12.8% during the 3rd quarter. Pure Financial Advisors LLC now owns 5,480 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 622 shares in the last quarter. Finally, Private Wealth Partners LLC grew its stake in shares of Charles Schwab by 41.0% in the 3rd quarter. Private Wealth Partners LLC now owns 42,945 shares of the financial services provider’s stock worth $2,783,000 after acquiring an additional 12,491 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW traded up $0.11 during trading on Friday, hitting $70.94. 6,266,153 shares of the company’s stock traded hands, compared to its average volume of 8,068,163. The stock has a market capitalization of $126.16 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.62 and a beta of 0.96. The Charles Schwab Co. has a 12-month low of $53.49 and a 12-month high of $79.49. 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 business has a 50 day moving average of $66.39 and a 200-day moving average of $69.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate 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 was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Insider Transactions at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated 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 directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $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 accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, 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 ninety days, insiders have sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on SCHW shares. Piper Sandler upped their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Jefferies Financial Group reduced their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, TD Cowen reiterated a “hold” rating and issued a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.94.

About Charles Schwab

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.