Aigen Investment Management LP Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Aigen Investment Management LP acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,573 shares of the financial services provider’s stock, valued at approximately $1,917,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after acquiring an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Legal & General Group Plc raised its stake in Charles Schwab by 2.1% during the 2nd 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 raised its stake in Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after purchasing an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC raised its stake in Charles Schwab by 8.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock valued at $528,445,000 after purchasing an additional 596,589 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of Charles Schwab stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the firm’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 transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,465 shares of company stock valued at $8,050,109 over the last three months. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $0.51 during midday trading on Tuesday, hitting $78.36. The company’s stock had a trading volume of 545,313 shares, compared to its average volume of 8,024,136. The stock has a market capitalization of $139.36 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.69 and a beta of 0.96. The stock’s 50 day simple moving average is $67.50 and its 200 day simple moving average is $69.46. The Charles Schwab Co. has a fifty-two week low of $53.60 and a fifty-two week high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results 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 17.52% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $0.77 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Co. will post 3.11 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Jefferies Financial Group cut their target price 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. Cowen boosted their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Raymond James dropped their price target on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $71.00 price target (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Hold” and an average target price of $74.18.

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.