The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.4% in the first quarter, HoldingsChannel reports. The firm owned 8,007 shares of the financial services provider’s stock after purchasing an additional 337 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Charles Schwab were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Frazier Financial Advisors LLC acquired a new position in Charles Schwab during the 4th quarter worth $30,000. Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab during the 4th quarter worth $31,000. Tributary Capital Management LLC acquired a new stake in shares of Charles Schwab in the first quarter valued at $31,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Charles Schwab by 81.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock valued at $41,000 after buying an additional 268 shares during the period. Finally, Partnership Wealth Management LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SCHW shares. TD Cowen restated a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $76.00 to $84.00 in a report on Monday, July 8th. UBS Group cut their price objective on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group upped their price objective on Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday, July 8th. Finally, Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $80.00 to $64.00 in a report on Monday. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.27.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the transaction, the director now owns 567,057 shares in the company, valued at $35,134,851.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Walter W. Bettinger bought 25,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now owns 567,057 shares in the company, valued at approximately $35,134,851.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 350,178 shares of company stock valued at $26,136,963. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.6 %

NYSE:SCHW traded down $0.39 during trading hours on Tuesday, hitting $64.91. 8,021,914 shares of the company’s stock traded hands, compared to its average volume of 8,019,413. The firm has a market cap of $115.36 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.24 and a beta of 0.99. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The stock’s fifty day moving average price is $71.83 and its two-hundred day moving average price is $70.06.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.65% and a net margin of 26.30%. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, research analysts expect that The Charles Schwab Co. will post 3.09 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

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.