UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 331,846 Shares of The Charles Schwab Co. (NYSE:SCHW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in The Charles Schwab Co. (NYSE:SCHW) by 3.8% during the third quarter, HoldingsChannel reports. The firm owned 9,142,602 shares of the financial services provider’s stock after buying an additional 331,846 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Charles Schwab were worth $592,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Washington Trust Advisors Inc. grew its stake in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab in the third quarter worth $25,000. Country Trust Bank acquired a new stake in shares of Charles Schwab in the second quarter worth $26,000. American Capital Advisory LLC acquired a new stake in shares of Charles Schwab in the second quarter worth $27,000. Finally, Fortitude Family Office LLC grew its stake in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SCHW shares. Cowen lifted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Piper Sandler lifted their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Jefferies Financial Group decreased their price target on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Bank of America decreased their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. Finally, Morgan Stanley lifted their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $74.18.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,968 shares of company stock valued at $9,419,271. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Charles Schwab stock opened at $82.60 on Friday. The stock has a 50-day simple moving average of $72.02 and a 200 day simple moving average of $70.03. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $55.59 and a 12-month high of $82.65. The stock has a market capitalization of $147.00 billion, a price-to-earnings ratio of 32.27, a P/E/G ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.21%. Charles Schwab’s dividend payout ratio is currently 39.06%.

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.