ASR Vermogensbeheer N.V. Has $15.15 Million Stock Position in The Charles Schwab Corporation $SCHW

Key Points

• ASR Vermogensbeheer N.V. increased its stake in The Charles Schwab Corporation by 10.3%, now owning 166,008 shares valued at approximately $15.15 million.
• Charles Schwab reported a 24.8% year-over-year revenue growth with earnings per share of $1.14, exceeding analysts' expectations of $1.10.
• The company has authorized a $20 billion share buyback program, indicating confidence in its stock’s valuation among the board of directors.

ASR Vermogensbeheer N.V. boosted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 10.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 166,008 shares of the financial services provider's stock after buying an additional 15,528 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Charles Schwab were worth $15,146,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pine Haven Investment Counsel Inc grew its holdings in shares of Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock valued at $3,813,000 after buying an additional 110 shares during the last quarter. Traveka Wealth LLC grew its holdings in shares of Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock valued at $259,000 after buying an additional 117 shares during the last quarter. Bank of Stockton grew its holdings 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 valued at $967,000 after buying an additional 123 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of 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 buying an additional 129 shares during the last quarter. Finally, HM Payson & Co. grew its holdings in shares of Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock valued at $1,509,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Down 3.4%

SCHW opened at $92.22 on Thursday. 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 stock has a market cap of $167.39 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 0.94 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $62.41 and a twelve month high of $99.59. The company's 50-day moving average price is $95.50 and its two-hundred day moving average price is $88.36.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company's quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 earnings per share. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its board has approved a share buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio is 29.03%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,923 shares of company stock worth $25,932,955 in the last ninety days. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SCHW. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. William Blair lowered shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an "overweight" rating in a research report on Friday, July 18th. Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, Bank of America raised their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research report on Monday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.