Federated Hermes Inc. Raises Position in The Charles Schwab Corporation $SCHW

Federated Hermes Inc. increased its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 2,112.7% in the second quarter, Holdings Channel.com reports. The firm owned 181,793 shares of the financial services provider’s stock after purchasing an additional 173,577 shares during the period. Federated Hermes Inc.’s holdings in Charles Schwab were worth $16,587,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 19,195 shares during the period. Benjamin Edwards Inc. increased its position in Charles Schwab by 9.5% during the first quarter. Benjamin Edwards Inc. now owns 6,427 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 557 shares during the last quarter. Meridian Wealth Management LLC raised its stake in Charles Schwab by 2.2% during the first quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 136 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at $31,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Charles Schwab by 73.4% during the 1st quarter. Russell Investments Group Ltd. now owns 1,628,057 shares of the financial services provider’s stock valued at $127,381,000 after buying an additional 689,222 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.58.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of Charles Schwab stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.30% of the stock is owned by company insiders.

Charles Schwab Trading Up 1.7%

NYSE SCHW opened at $95.78 on Thursday. The company’s fifty day simple moving average is $93.72 and its 200-day simple moving average is $93.31. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $170.19 billion, a P/E ratio of 22.43, a PEG ratio of 0.84 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results 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. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the business earned $0.71 EPS. The business’s revenue was up 26.6% on a year-over-year basis. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

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.