Connor Clark & Lunn Investment Management Ltd. Has $10.51 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in The Charles Schwab Co. (NYSE:SCHW) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,171 shares of the financial services provider’s stock after selling 31,088 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Charles Schwab were worth $10,510,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Charles Schwab by 4.2% during the first 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 acquiring an additional 2,946,327 shares during the last quarter. Darsana Capital Partners LP raised its holdings in Charles Schwab by 200.0% during the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after buying an additional 2,000,000 shares during the last quarter. AustralianSuper Pty Ltd boosted its position in shares of Charles Schwab by 2,617.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after buying an additional 1,644,931 shares during the last quarter. Boston Partners lifted its position in shares of Charles Schwab by 21.2% during the first quarter. Boston Partners now owns 5,395,138 shares of the financial services provider’s stock valued at $390,856,000 after purchasing an additional 944,048 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Charles Schwab by 7,559.9% during the 3rd quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider’s stock worth $57,667,000 after buying an additional 878,163 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,929 shares of company stock worth $8,196,624 over the last 90 days. 6.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SCHW shares. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Barclays raised their price objective on shares of Charles Schwab from $64.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Piper Sandler upped their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, 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 report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.18.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $80.80 on Friday. The firm’s fifty day moving average is $70.17 and its two-hundred day moving average is $69.82. The Charles Schwab Co. has a 52-week low of $55.42 and a 52-week high of $82.50. The company has a market cap of $143.80 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.74 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

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.