Reasons For The Charles Schwab Corporation (SCHW)’s Outperformance in Q3
Ariel Investments, an investment management company, released its “Ariel Appreciation Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined -5.66% compared to the -4.93% decline for the Russell Midcap Value Index and -3.44% decline for the Russell Midcap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Investment highlighted stocks like The Charles Schwab Corporation (NYSE:SCHW) in the Q3 2022 investor letter. Headquartered in Westlake, Texas, The Charles Schwab Corporation (NYSE:SCHW) is a financial services company. On December 1, 2022, The Charles Schwab Corporation (NYSE:SCHW) stock closed at $81.73 per share. One-month return of The Charles Schwab Corporation (NYSE:SCHW) was 3.39%, and its shares gained 4.15% of their value over the last 52 weeks. The Charles Schwab Corporation (NYSE:SCHW) has a market capitalization of $152.569 billion.
Ariel Investment made the following comment about The Charles Schwab Corporation (NYSE:SCHW) in its Q3 2022 investor letter:
"Shares of financial services provider The Charles Schwab Corporation (NYSE:SCHW) also traded higher following the delivery of a top and bottom-line earnings beat, an increase in its quarterly dividend and the announcement of a significant stock repurchase program. We believe the company will continue to weather various macro and competitive pressures in a rising rate environment by flexing its scale and customer-centric focus in support of its industry leading cost advantage. We also think the TD Ameritrade acquisition will create incremental value and further enhance SCHW’s marketplace standing and long-term growth trajectory."
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The Charles Schwab Corporation (NYSE:SCHW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held The Charles Schwab Corporation (NYSE:SCHW) at the end of the third quarter, which was 68 in the previous quarter.
We discussed The Charles Schwab Corporation (NYSE:SCHW) in another article and shared the biggest holding companies in the world. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
