Dakota Wealth Management Acquires 6,769 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Dakota Wealth Management increased its stake in The Charles Schwab Corporation by 15.5%, acquiring an additional 6,769 shares to hold a total of 50,363 shares worth approximately $4.6 million.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have also raised their holdings in Charles Schwab recently, indicating strong institutional interest in the company.
• Charles Schwab announced a $20 billion share buyback program, reflecting the board's belief that the stock is undervalued, alongside a quarterly dividend of $0.27 per share.

Dakota Wealth Management grew its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,363 shares of the financial services provider's stock after purchasing an additional 6,769 shares during the period. Dakota Wealth Management's holdings in Charles Schwab were worth $4,595,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SCHW. Vanguard Group Inc. raised its stake in Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock worth $11,616,380,000 after acquiring an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Charles Schwab by 10.8% during the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider's stock valued at $1,365,227,000 after purchasing an additional 1,700,384 shares during the last quarter. Alliancebernstein L.P. increased its position in Charles Schwab by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider's stock worth $1,339,822,000 after purchasing an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Charles Schwab by 5.0% in the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock valued at $1,220,107,000 after purchasing an additional 743,906 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the company's stock in a transaction on 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 sale, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,213 shares of company stock valued at $26,232,180 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Shares of SCHW opened at $94.75 on Friday. The business has a 50-day moving average of $95.55 and a 200-day moving average of $87.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $171.99 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The Charles Schwab Corporation has a 1 year low of $62.41 and a 1 year high of $99.59.

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

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

Charles Schwab Dividend Announcement

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

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research reports. Barclays boosted their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $114.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Zacks Research lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Sixteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $100.00.

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.

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).

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.