FORA Capital LLC Acquires New Holdings in The Charles Schwab Corporation $SCHW

FORA Capital LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,261 shares of the financial services provider’s stock, valued at approximately $4,768,000.

Several other hedge funds have also recently bought and sold shares of SCHW. Norges Bank acquired a new position in shares of Charles Schwab during the second quarter worth about $1,889,858,000. Wellington Management Group LLP boosted its position in Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after acquiring an additional 13,262,309 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Brown Advisory Inc. increased its stake in Charles Schwab by 88.4% in the 2nd quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock valued at $1,109,687,000 after buying an additional 5,708,208 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in Charles Schwab by 35.9% during the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after buying an additional 5,032,728 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on SCHW shares. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Truist Financial raised their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Bank of America boosted their price target on Charles Schwab from $88.00 to $91.00 and gave the stock an “underperform” rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given 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 price target of $108.37.

Insider Buying and Selling at Charles Schwab

In other 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 transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the business’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 sale, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Down 0.4%

Shares of NYSE SCHW opened at $96.63 on Friday. The stock’s fifty day moving average is $93.86 and its 200 day moving average is $93.44. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $171.71 billion, a P/E ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

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.