ASR Vermogensbeheer N.V. Takes Position in The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• ASR Vermogensbeheer N.V. acquired 150,480 shares of The Charles Schwab Corporation, valuing the stake at approximately $11.78 million.
• Charles Schwab reported a 24.8% increase in revenue year-over-year, with quarterly earnings exceeding analysts' expectations at $1.14 per share.
• The company announced a $20 billion share buyback program, reflecting management's belief that its stock is currently undervalued.

ASR Vermogensbeheer N.V. purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 150,480 shares of the financial services provider's stock, valued at approximately $11,780,000.

Other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Financial LLC bought a new stake in shares of Charles Schwab during the fourth quarter worth approximately $1,455,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings 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 worth $92,493,000 after acquiring an additional 68,858 shares during the period. Graham Capital Management L.P. grew its holdings 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 worth $8,317,000 after acquiring an additional 80,112 shares during the period. World Investment Advisors raised its position in shares of 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 during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Charles Schwab by 17.2% in the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after purchasing an additional 29,255 shares during the period. Institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Cowen restated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. JMP Securities upped their price target on Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a research note on Monday, July 21st. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Friday, April 25th. Finally, Piper Sandler boosted their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.35.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 308,016 shares of company stock worth $29,341,433. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Up 0.4%

Shares of Charles Schwab stock opened at $96.79 on Thursday. The firm has a market cap of $175.87 billion, a PE ratio of 26.02, a P/E/G ratio of 0.92 and a beta of 0.96. The business's 50 day simple moving average is $91.81 and its 200 day simple moving average is $84.11. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week high of $99.59.

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, beating analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The firm's revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Charles Schwab declared that its Board of Directors has authorized a share buyback program 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 repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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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