Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 42,500 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in The Charles Schwab Corporation by 14.9%, selling 42,500 shares and retaining a total of 242,860 shares worth approximately $19 million.
• Charles Schwab recently announced a $20 billion stock buyback plan, signaling confidence in the company's value, while also declaring a quarterly dividend of $0.27 per share.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Charles Schwab's stock, with price targets ranging from $82 to $113, reflecting positive market sentiment around the company's performance.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 14.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 242,860 shares of the financial services provider's stock after selling 42,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Charles Schwab were worth $19,011,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new stake in Charles Schwab in the 1st quarter worth $25,000. Westside Investment Management Inc. increased its position in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares during the period. Stone House Investment Management LLC purchased a new position in Charles Schwab during the 1st quarter valued at $31,000. WFA Asset Management Corp purchased a new position in Charles Schwab during the 1st quarter valued at $33,000. Finally, Cornerstone Planning Group LLC increased its position in Charles Schwab by 90.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 220 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $95.63 on Thursday. The stock has a market cap of $173.59 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 0.95 and a beta of 0.96. The firm's 50-day moving average is $92.72 and its 200 day moving average is $84.69. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year 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 0.53.

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

Charles Schwab Dividend Announcement

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

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

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research analyst reports. TD Securities boosted their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Friday, April 25th. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Barclays boosted their price objective on shares of Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an "overweight" rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of "Moderate Buy" and a consensus target price of $99.35.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 308,016 shares of company stock worth $29,341,433. 6.30% of the stock is owned by company insiders.

Charles Schwab Company 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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