BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $25.78 Million Holdings in The Charles Schwab Corporation $SCHW

Key Points

• British Columbia Investment Management Corp reduced its stake in The Charles Schwab Corporation by 33.6%, now holding 329,377 shares valued at approximately $25.78 million.
• Multiple hedge funds have adjusted their stakes in Charles Schwab, with Brighton Jones LLC increasing its stake by 380.5%, now owning 24,240 shares.
• The company has a consensus rating of "Moderate Buy" among analysts, with a target price of $99.60 and projected earnings of $4.22 EPS for the current year.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 33.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 329,377 shares of the financial services provider's stock after selling 166,818 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Charles Schwab were worth $25,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cary Street Partners Financial LLC acquired a new stake in shares of Charles Schwab during the fourth quarter worth $1,455,000. Independent Advisor Alliance raised its holdings in shares of Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock worth $3,061,000 after acquiring an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Charles Schwab by 6.2% during the first 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. raised its holdings in shares of Charles Schwab by 248.3% during the fourth 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. Finally, World Investment Advisors raised its holdings in shares of Charles Schwab by 7.6% during the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock worth $12,760,000 after acquiring an additional 11,505 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SCHW shares. Morgan Stanley raised their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Bank of America lifted their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research note on Monday, July 21st. Cowen reiterated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Citigroup lifted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, TD Securities lifted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and an average target price of $99.60.

Charles Schwab Stock Performance

Shares of SCHW traded up $1.11 during midday trading on Tuesday, reaching $97.30. The stock had a trading volume of 7,720,954 shares, compared to its average volume of 8,098,677. The firm has a 50 day simple moving average of $94.16 and a 200-day simple moving average of $85.55. The Charles Schwab Corporation has a one year low of $61.16 and a one year high of $99.59. The firm has a market cap of $176.62 billion, a PE ratio of 26.16, a P/E/G ratio of 0.95 and a beta of 0.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion during 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 19.30%. The company's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab's payout ratio is presently 29.03%.

Charles Schwab announced that its Board of Directors has approved a stock repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares of the company's stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the sale, the insider directly owned 15,219 shares of the company's stock, valued at $1,332,727.83. The trade was a 15.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,693 shares of company stock worth $23,488,848. 6.30% of the stock is currently owned by corporate insiders.

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.