The Charles Schwab Corporation $SCHW Holdings Raised by Castleark Management LLC

Castleark Management LLC lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 3,556.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 342,240 shares of the financial services provider’s stock after purchasing an additional 332,880 shares during the quarter. Charles Schwab accounts for about 0.9% of Castleark Management LLC’s investment portfolio, making the stock its 24th largest holding. Castleark Management LLC’s holdings in Charles Schwab were worth $31,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SCHW. Bryn Mawr Trust Advisors LLC increased its position in shares of Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after acquiring an additional 107 shares in the last quarter. Nicolet Bankshares Inc. boosted its stake in Charles Schwab by 0.8% in the 2nd quarter. Nicolet Bankshares Inc. now owns 13,049 shares of the financial services provider’s stock worth $1,191,000 after purchasing an additional 107 shares during the period. Pine Haven Investment Counsel Inc grew its position in Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after purchasing an additional 110 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its position in Charles Schwab by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,330 shares of the financial services provider’s stock worth $1,219,000 after purchasing an additional 110 shares in the last quarter. Finally, Principle Wealth Partners LLC raised its stake in Charles Schwab by 2.0% during the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 113 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the sale, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction 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. The trade was a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $96.63 on Friday. 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 firm has a fifty day simple moving average of $93.86 and a 200-day simple moving average of $93.44. The stock has a market capitalization of $171.71 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping 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 firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The business’s revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced 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 presently 25.29%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. BMO Capital Markets started coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Bank of America lifted their target price on Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a research note on Wednesday. Barclays reduced their price target on shares of Charles Schwab from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.37.

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.