111 Capital Purchases Shares of 32,619 The Charles Schwab Corporation $SCHW

Key Points

• 111 Capital acquired 32,619 shares of The Charles Schwab Corporation, valued at approximately $2.98 million, as reported in their recent 13F filing.
• Insiders sold a total of 267,128 shares in the last 90 days, indicating significant transactions by key personnel within the company.
• The company announced a $20 billion stock repurchase plan, approving the buyback of up to 11.6% of its shares, signaling a belief that the stock is undervalued.

111 Capital purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 32,619 shares of the financial services provider's stock, valued at approximately $2,976,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bain Capital Public Equity Management II LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at approximately $79,605,000. Independent Advisor Alliance raised its position in shares of Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock valued at $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock valued at $92,493,000 after acquiring an additional 68,858 shares in the last quarter. United Services Automobile Association raised its position in shares of Charles Schwab by 14.1% during the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider's stock valued at $3,074,000 after acquiring an additional 4,869 shares in the last quarter. Finally, World Investment Advisors raised its position in shares of Charles Schwab by 7.6% during the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock valued at $12,760,000 after acquiring an additional 11,505 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research reports. Zacks Research lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. JMP Securities upped their price objective on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research note on Monday, July 21st. Bank of America upped their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an "underperform" rating in a research note on Thursday. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Finally, Truist Financial set a $112.00 price objective on Charles Schwab in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $100.52.

Charles Schwab Trading Up 1.5%

NYSE:SCHW opened at $94.13 on Friday. The Charles Schwab Corporation has a 1 year low of $64.07 and a 1 year high of $99.59. The stock has a market cap of $170.87 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.90 and a beta of 0.97. The business has a fifty day moving average of $95.37 and a 200-day moving average of $88.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab's dividend payout ratio is 29.03%.

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.

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