BI Asset Management Fondsmaeglerselskab A S Has $6.35 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in The Charles Schwab Corporation by 6.7%, owning 81,167 shares valued at approximately $6.35 million.
• Several analysts have increased their price targets for Charles Schwab, with Citigroup raising theirs from $105 to $110 and Truist Financial from $107 to $112, reflecting a consensus rating of "Moderate Buy".
• Charles Schwab announced a quarterly dividend of $0.27 per share and authorized a share repurchase plan of $20 billion, indicating confidence in its stock valuation.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,167 shares of the financial services provider's stock after selling 5,846 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Charles Schwab were worth $6,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sheaff Brock Investment Advisors LLC increased its stake in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after acquiring an additional 129 shares during the last quarter. HM Payson & Co. increased its stake 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 acquiring an additional 130 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in 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 purchasing an additional 132 shares in the last quarter. Journey Strategic Wealth LLC increased its position in Charles Schwab by 3.1% during 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 increased its position in Charles Schwab by 2.2% during 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. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

SCHW stock traded down $0.1690 during mid-day trading on Friday, reaching $95.6510. 12,859,422 shares of the stock traded hands, compared to its average volume of 7,972,781. 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 Charles Schwab Corporation has a 52 week low of $61.16 and a 52 week high of $99.59. The business has a 50-day moving average of $93.85 and a two-hundred day moving average of $85.34. The firm has a market capitalization of $173.63 billion, a PE ratio of 25.71, a P/E/G ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results 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. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The business's quarterly revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider owned 15,219 shares in the company, valued at approximately $1,332,727.83. This trade represents a 15.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the sale, the director owned 105,654 shares of the company's stock, valued at approximately $9,303,891.24. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,340 shares of company stock valued at $24,250,303 in the last quarter. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and increased their target price for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Citigroup increased their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Morgan Stanley increased their target price 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. Finally, Raymond James Financial reissued an "outperform" rating and set a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Sixteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average price target of $99.60.

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.