AQR Capital Management LLC Has $182.65 Million Holdings in The Charles Schwab Corporation $SCHW

Key Points

• AQR Capital Management LLC increased its stake in Charles Schwab by 694.1%, owning approximately 2.36 million shares valued at $182.65 million.
• Charles Schwab reported a quarterly EPS of $1.14, exceeding analyst estimates, and experienced a 24.8% increase in revenue compared to the previous year.
• The firm declared a quarterly dividend of $0.27 per share, representing an annual yield of 1.1%, with a payout ratio of 29.03%.

AQR Capital Management LLC boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 694.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,358,310 shares of the financial services provider's stock after buying an additional 2,061,332 shares during the period. AQR Capital Management LLC owned about 0.13% of Charles Schwab worth $182,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cary Street Partners Financial LLC purchased a new position in Charles Schwab during the 4th quarter valued at about $1,455,000. Independent Advisor Alliance grew its stake in 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 grew its stake in 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. Graham Capital Management L.P. grew its stake in Charles Schwab by 248.3% during the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after acquiring an additional 80,112 shares in the last quarter. Finally, World Investment Advisors grew its stake in 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. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Down 0.1%

Shares of SCHW stock 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 firm has a market cap of $174.36 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The stock has a 50 day moving average of $94.99 and a 200-day moving average of $86.13. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

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

Charles Schwab Dividend Announcement

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

Charles Schwab declared that its Board of Directors has approved a share repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SCHW shares. Morgan Stanley lifted their target price on Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Truist Financial boosted their price target on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Cowen reissued a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Bank of America boosted their price target on Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research note on Monday, July 21st. Finally, Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $99.60.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the company's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the transaction, the insider owned 39,154 shares of the company's stock, valued at $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 298,214 shares of company stock valued at $29,022,580. 6.30% of the stock is owned by corporate insiders.

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.

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