Algert Global LLC Makes New $4.12 Million Investment in The Charles Schwab Corporation $SCHW

Key Points

• Algert Global LLC invested approximately $4.12 million in The Charles Schwab Corporation, acquiring 52,604 shares during the first quarter.
• Charles Schwab announced a $0.27 quarterly dividend to be paid on August 22nd, amounting to an annualized dividend of $1.08 and a yield of 1.1%.
• Several analysts have recently raised their price targets for Charles Schwab, with Barclays setting a new target of $113.00 and most analysts rating the stock as a "Moderate Buy."

Algert Global LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 52,604 shares of the financial services provider's stock, valued at approximately $4,118,000.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares during the period. Northern Trust Corp boosted its holdings in shares of Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after purchasing an additional 1,864,286 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Charles Schwab by 5.0% in the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock valued at $1,220,107,000 after purchasing an additional 743,906 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Charles Schwab by 229.3% in the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider's stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Charles Schwab by 27.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,653,684 shares of the financial services provider's stock valued at $862,489,000 after purchasing an additional 2,511,082 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Down 0.2%

SCHW stock traded down $0.1690 during midday trading on Friday, hitting $95.6510. 12,859,422 shares of the company's stock were exchanged, compared to its average volume of 7,972,781. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12-month low of $61.16 and a 12-month high of $99.59. The firm has a 50 day moving average price of $93.85 and a 200-day moving average price of $85.34. The stock has a market capitalization of $173.63 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the previous year, the business earned $0.73 EPS. Charles Schwab's revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has initiated a stock buyback plan 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 buy up to 11.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab's payout ratio is currently 29.03%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director owned 105,654 shares in the company, valued at $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,340 shares of company stock worth $24,250,303 over the last ninety days. Company insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an "overweight" rating in a research report on Friday, July 18th. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Friday, April 25th. Finally, Morgan Stanley increased their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.60.

Charles Schwab Company 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.