IFM Investors Pty Ltd Has $30.39 Million Stock Position in The Charles Schwab Corporation $SCHW

Key Points

• IFM Investors Pty Ltd increased its holdings in The Charles Schwab Corporation by 4.6%, owning 333,109 shares valued at approximately $30.4 million as of its latest filing with the SEC.
• Charles Schwab reported earnings of $1.14 per share, exceeding analysts' estimates, along with a revenue of $5.85 billion for the quarter, marking a year-over-year increase of 24.8%.
• The company declared a quarterly dividend of $0.27 per share, with an annualized yield of 1.2%, and announced a $20 billion stock buyback program to repurchase up to 11.6% of its shares.

IFM Investors Pty Ltd increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 333,109 shares of the financial services provider's stock after purchasing an additional 14,763 shares during the quarter. IFM Investors Pty Ltd's holdings in Charles Schwab were worth $30,393,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SCHW. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab during the first quarter worth $25,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 191 shares during the period. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the first quarter valued at $31,000. Finally, Activest Wealth Management lifted its holdings in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 399 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction on 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 owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total value of $305,116.00. Following the completion of the transaction, the insider directly owned 37,983 shares of the company's stock, valued at approximately $3,615,981.60. The trade was a 7.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,213 shares of company stock worth $26,232,180. Corporate insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SCHW shares. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Piper Sandler lifted their price target on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Finally, Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Sixteen 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.00.

Charles Schwab Trading Up 1.1%

Shares of NYSE SCHW traded up $0.99 during midday trading on Friday, hitting $94.27. The stock had a trading volume of 14,854,005 shares, compared to its average volume of 9,421,421. The company has a market capitalization of $171.12 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 0.93 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. 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 company has a fifty day moving average price of $95.42 and a 200 day moving average price of $87.33.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping 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 firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the company posted $0.73 EPS. Charles Schwab's revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts predict 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 stock buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

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

About Charles Schwab

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.