12,994 Shares in The Charles Schwab Corporation $SCHW Bought by R Squared Ltd

Key Points

• R Squared Ltd acquired 12,994 shares of The Charles Schwab Corporation, worth approximately $1,186,000, indicating institutional interest in the company's stock.
• Charles Schwab recently reported an earnings-per-share (EPS) of $1.31 for the last quarter, exceeding analyst expectations of $1.25, with revenues reaching $6.14 billion.
• The company announced a quarterly dividend of $0.27 per share, representing a 1.1% yield, alongside a share buyback program for up to $20 billion in shares.

R Squared Ltd acquired 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 Securities and Exchange Commission (SEC). The institutional investor acquired 12,994 shares of the financial services provider's stock, valued at approximately $1,186,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Pine Haven Investment Counsel Inc boosted its position in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock valued at $3,813,000 after purchasing an additional 110 shares during the period. Principle Wealth Partners LLC lifted its stake in Charles Schwab by 2.0% in the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider's stock valued at $537,000 after buying an additional 113 shares during the last quarter. Traveka Wealth LLC increased its stake in Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock valued at $259,000 after purchasing an additional 117 shares during the period. Tlwm raised its holdings in shares of Charles Schwab by 0.7% in the second quarter. Tlwm now owns 17,687 shares of the financial services provider's stock valued at $1,614,000 after buying an additional 120 shares during the last quarter. Finally, Bank of Stockton boosted its stake in shares of Charles Schwab by 1.2% during the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider's stock worth $967,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent research reports. Citigroup boosted their price target on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Morgan Stanley dropped their target price on Charles Schwab to $130.00 and set an "overweight" rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Charles Schwab in a report on Wednesday, October 8th. BMO Capital Markets started coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They issued an "outperform" rating and a $110.00 price objective on the stock. Finally, Zacks Research downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $106.00.

Charles Schwab Stock Performance

SCHW opened at $94.52 on Friday. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The stock has a market cap of $171.58 billion, a P/E ratio of 22.14, a P/E/G ratio of 0.85 and a beta of 0.97. The stock's 50 day simple moving average is $94.46 and its 200 day simple moving average is $90.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.06. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab's quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab's dividend payout ratio (DPR) is 25.29%.

Charles Schwab announced that its Board of Directors has initiated a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,205 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by company insiders.

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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