First Trust Advisors LP Has $51.26 Million Stake in The Charles Schwab Corporation $SCHW

First Trust Advisors LP lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 260.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 561,817 shares of the financial services provider’s stock after purchasing an additional 406,146 shares during the quarter. First Trust Advisors LP’s holdings in Charles Schwab were worth $51,260,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter worth $25,000. RMG Wealth Management LLC bought a new stake in Charles Schwab during the second quarter worth about $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in Charles Schwab during the second quarter worth about $32,000. Hoese & Co LLP grew its stake in Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Finally, Evelyn Partners Asset Management Ltd bought a new position in Charles Schwab in the 2nd quarter valued at about $33,000. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCHW. Truist Financial upped their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. TD Cowen upped their target price on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a report on Friday, October 17th. JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.11.

Charles Schwab Price Performance

Shares of SCHW opened at $94.24 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $167.46 billion, a PE ratio of 22.07, a PEG 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. The business has a 50-day simple moving average of $93.68 and a two-hundred day simple moving average of $93.25.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.30% of the stock is currently owned by company insiders.

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.