Figure 8 Investment Strategies LLC Takes Position in The Charles Schwab Corporation $SCHW

Key Points

• Figure 8 Investment Strategies LLC has acquired a new position in The Charles Schwab Corporation, purchasing 10,124 shares valued at approximately $924,000.
• Insiders have recently sold a total of 267,128 shares of Charles Schwab stock, indicating potential fluctuations in insider confidence and ownership.
• Charles Schwab reported an earnings per share (EPS) of $1.14 for the last quarter, exceeding estimates and reflecting a 24.8% year-over-year revenue increase.

Figure 8 Investment Strategies LLC acquired a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,124 shares of the financial services provider's stock, valued at approximately $924,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Charles Schwab by 15.4% during the 1st 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 during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 12.3% during the first 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 during the period. Northern Trust Corp raised its stake in shares of Charles Schwab by 10.8% during the first 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 in the last quarter. Alliancebernstein L.P. lifted its holdings in Charles Schwab by 16.0% in the first 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 during the period. Finally, Invesco Ltd. lifted its holdings in Charles Schwab by 5.0% in the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock worth $1,220,107,000 after purchasing an additional 743,906 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 over the last 90 days. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Up 1.5%

SCHW stock opened at $94.13 on Friday. The firm has a market cap of $170.87 billion, a PE ratio of 25.30, a P/E/G ratio of 0.90 and a beta of 0.97. The Charles Schwab Corporation has a 12 month low of $64.07 and a 12 month high of $99.59. 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 firm has a 50 day simple moving average of $95.37 and a 200 day simple moving average of $88.57.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (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 company had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The firm's revenue was up 24.8% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Dividend Announcement

The business also recently announced 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 of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab's payout ratio is 29.03%.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research analyst reports. Truist Financial set a $112.00 target price on shares of Charles Schwab in a research note on Thursday. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and increased their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Citigroup raised their price objective 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. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Bank of America increased their price target on Charles Schwab from $84.00 to $86.00 and gave the company an "underperform" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.52.

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.

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