Tema Etfs LLC Invests $2.73 Million in The Charles Schwab Corporation $SCHW

by · The Markets Daily

Tema Etfs LLC purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW – Free Report) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 28,587 shares of the financial services provider’s stock, valued at approximately $2,729,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its holdings in shares of Charles Schwab by 10.9% during the 3rd quarter. New York State Teachers Retirement System now owns 1,394,190 shares of the financial services provider’s stock worth $133,103,000 after acquiring an additional 136,692 shares during the period. Citizens & Northern Corp increased its stake in shares of Charles Schwab by 0.7% in the third quarter. Citizens & Northern Corp now owns 22,098 shares of the financial services provider’s stock valued at $2,110,000 after buying an additional 154 shares during the period. Opal Wealth Advisors LLC raised its stake in shares of Charles Schwab by 3.4% during the third quarter. Opal Wealth Advisors LLC now owns 4,473 shares of the financial services provider’s stock valued at $427,000 after acquiring an additional 147 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Charles Schwab during the 3rd quarter worth about $230,000. Finally, Oliver Luxxe Assets LLC grew its position in shares of Charles Schwab by 4.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 64,930 shares of the financial services provider’s stock valued at $6,199,000 after buying an additional 3,041 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SCHW. Truist Financial increased their price objective on shares of Charles Schwab from $113.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Wolfe Research set a $120.00 target price on Charles Schwab in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. TD Cowen lifted their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.57.

Check Out Our Latest Analysis on SCHW

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total value of $204,020.00. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,216,265.23. This represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $101.95 on Tuesday. The firm has a 50 day moving average of $96.51 and a 200-day moving average of $95.22. The firm has a market capitalization of $181.16 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 0.70 and a beta of 0.94. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $104.76.

Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The firm’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab Company Profile

(Free Report)

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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