Sompo Asset Management Co. Ltd. Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Sompo Asset Management Co. Ltd. acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,950 shares of the financial services provider’s stock, valued at approximately $580,000.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. Legal & General Group Plc grew its holdings in Charles Schwab by 2.1% in the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after purchasing an additional 225,397 shares during the period. Allen Investment Management LLC increased its position in shares of Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after buying an additional 251,485 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Charles Schwab by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,893,522 shares of the financial services provider’s stock valued at $511,579,000 after buying an additional 66,022 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Charles Schwab by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after buying an additional 38,201 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SCHW shares. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Raymond James cut their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Barclays upped their price target on shares of Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Cowen raised their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $74.18.

Insider Transactions at Charles Schwab

In related news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the transaction, the director now owns 551,329 shares in the company, valued at $39,783,900.64. This represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 112,929 shares of company stock valued at $8,196,624. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.6 %

Charles Schwab stock opened at $81.26 on Monday. The firm has a market capitalization of $144.62 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.76 and a beta of 0.96. The stock’s fifty day simple moving average is $70.55 and its 200-day simple moving average is $69.76. The Charles Schwab Co. has a twelve month low of $55.59 and a twelve month high of $82.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business posted $0.77 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab’s payout ratio is 39.06%.

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.