Amundi Has $451.50 Million Stock Position in The Charles Schwab Corporation $SCHW

Key Points

• Amundi's Investment: Amundi increased its stake in The Charles Schwab Corporation by 29.6%, acquiring an additional 1,378,805 shares, bringing its total ownership to 6,030,362 shares valued at approximately $451.5 million.
• Insider Selling: Chairman Walter W. Bettinger reduced his holdings by selling 173,876 shares for over $17 million, resulting in a 22.74% decrease in his position.
• Analyst Ratings: The stock has been rated as a "Moderate Buy" by analysts with an average consensus target price of $99.60, reflecting mixed ratings with some upgrades and downgrades noted recently.

Amundi boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 29.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,030,362 shares of the financial services provider's stock after purchasing an additional 1,378,805 shares during the period. Amundi owned 0.33% of Charles Schwab worth $451,495,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC boosted its position in Charles Schwab by 1.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock valued at $625,000 after purchasing an additional 129 shares during the last quarter. HM Payson & Co. lifted its position in shares of Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after buying an additional 130 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Charles Schwab by 2.1% in the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock worth $513,000 after buying an additional 132 shares during the last quarter. Journey Strategic Wealth LLC lifted its position in shares of Charles Schwab by 3.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock worth $351,000 after buying an additional 135 shares during the last quarter. Finally, Meridian Wealth Management LLC lifted its position in shares of Charles Schwab by 2.2% in the first quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider's stock worth $485,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 3,205 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the completion of the sale, the insider owned 37,983 shares in the company, valued at approximately $3,615,981.60. This represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 298,214 shares of company stock worth $29,022,580. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of analyst reports. William Blair cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. JMP Securities boosted their price target on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research report on Monday, July 21st. Morgan Stanley boosted their price target on Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.60.

Charles Schwab Trading Down 0.1%

Shares of SCHW opened at $96.06 on Thursday. The Charles Schwab Corporation has a 12-month low of $61.16 and a 12-month high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $174.36 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 0.94 and a beta of 0.96. The stock's 50-day moving average price is $94.99 and its 200 day moving average price is $86.13.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the company posted $0.73 earnings per share. The company's quarterly revenue was up 24.8% compared to the same quarter last year. As a group, research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced that its board has authorized a stock repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Charles Schwab Announces Dividend

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

About Charles Schwab

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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