21,300 Shares in The Charles Schwab Corporation $SCHW Bought by Pinnbrook Capital Management LP

Key Points

• Pinnbrook Capital Management acquired 21,300 Charles Schwab shares valued at approximately $4.83 million, while institutional investors and hedge funds collectively own 84.38% of SCHW.
• Charles Schwab insiders sold 398,984 shares worth roughly $41.7 million over the past 90 days, including significant sales by Chairman Walter Bettinger and Director Paula Sneed.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $121.17. The company recently exceeded quarterly earnings and revenue estimates, reporting $1.62 EPS and $7.07 billion in revenue.

Pinnbrook Capital Management LP acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 21,300 shares of the financial services provider's stock, valued at approximately $4,831,000.

A number of other institutional investors also recently bought and sold shares of SCHW. Norges Bank acquired a new position in Charles Schwab in the 4th quarter valued at about $1,994,189,000. Flossbach Von Storch SE acquired a new stake in Charles Schwab during the 2nd quarter worth approximately $987,930,000. BlackRock Inc. acquired a new stake in Charles Schwab during the 2nd quarter worth approximately $861,475,000. Bank of New York Mellon Corp grew its stake in shares of Charles Schwab by 22.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider's stock valued at $1,518,913,000 after purchasing an additional 3,009,884 shares during the last quarter. Finally, Primecap Management Co. CA grew its stake in shares of Charles Schwab by 9.7% in the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider's stock valued at $2,325,512,000 after purchasing an additional 2,066,884 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, Director Paula A. Sneed sold 5,263 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $107.15, for a total value of $563,930.45. Following the sale, the director owned 91,711 shares in the company, valued at $9,826,833.65. This represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 93,408 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $104.64, for a total value of $9,774,213.12. Following the completion of the transaction, the chairman directly owned 529,346 shares of the company's stock, valued at $55,390,765.44. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 398,984 shares of company stock worth $41,699,569. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. BMO Capital Markets cut Charles Schwab from an "outperform" rating to a "market perform" rating and set a $105.00 price target for the company. in a research note on Monday, July 20th. Barclays upped their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of Charles Schwab from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. UBS Group set a $135.00 price objective on shares of Charles Schwab in a research report on Monday, August 3rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $145.00 price objective on shares of Charles Schwab in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.17.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $112.36 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $112.40. The firm has a market capitalization of $194.31 billion, a P/E ratio of 20.43, a PEG ratio of 0.86 and a beta of 0.76. The company's fifty day moving average is $101.59 and its two-hundred day moving average is $96.15.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm posted $1.14 EPS. The business's revenue was up 20.9% compared to the same quarter last year. Analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is 23.27%.

Charles Schwab Profile

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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