The Charles Schwab Corporation $SCHW Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,268,772 shares of the financial services provider’s stock after selling 31,509 shares during the quarter. Bank of Nova Scotia’s holdings in Charles Schwab were worth $115,763,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Charles Schwab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after acquiring an additional 2,786,829 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Geode Capital Management LLC increased its position in Charles Schwab by 2.9% during the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after purchasing an additional 1,038,376 shares during the last quarter. Franklin Resources Inc. raised its stake in Charles Schwab by 2.8% during the second quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock worth $2,740,479,000 after purchasing an additional 815,625 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Charles Schwab by 1.0% in the 2nd quarter. Fisher Asset Management LLC now owns 21,376,690 shares of the financial services provider’s stock valued at $1,950,409,000 after purchasing an additional 211,527 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on SCHW. Truist Financial upped their price target on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Finally, TD Cowen increased their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.00 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The company’s fifty day moving average price is $93.73 and its two-hundred day moving average price is $93.20. The firm has a market capitalization of $167.03 billion, a P/E ratio of 22.01, a P/E/G ratio of 0.83 and a beta of 0.96. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. On average, research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio is 25.29%.

Insider Activity

In other news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is owned by corporate insiders.

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.