IFM Investors Pty Ltd Grows Stock Holdings 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 boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 333,109 shares of the financial services provider's stock after buying 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.

A number of other hedge funds also recently added to or reduced their stakes in the business. Grove Bank & Trust lifted its holdings in Charles Schwab by 15.1% during the 2nd quarter. Grove Bank & Trust now owns 2,746 shares of the financial services provider's stock worth $251,000 after buying an additional 360 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. acquired a new stake in Charles Schwab during the 2nd quarter worth approximately $244,000. Trust Point Inc. lifted its holdings in Charles Schwab by 27.0% during the 2nd quarter. Trust Point Inc. now owns 7,382 shares of the financial services provider's stock worth $674,000 after buying an additional 1,569 shares in the last quarter. Worth Asset Management LLC acquired a new stake in Charles Schwab during the 2nd quarter worth approximately $1,191,000. Finally, Rockland Trust Co. lifted its holdings in Charles Schwab by 5,141.2% during the 2nd quarter. Rockland Trust Co. now owns 241,620 shares of the financial services provider's stock worth $22,045,000 after buying an additional 237,010 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on SCHW. Morgan Stanley increased their target price 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. 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 report on Monday, July 21st. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and raised their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Truist Financial raised their price objective on shares of Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, William Blair lowered shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Sixteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.00.

Charles Schwab Stock Performance

Charles Schwab stock traded up $0.99 during midday trading on Friday, hitting $94.27. 14,854,005 shares of the company's stock were exchanged, compared to its average volume of 9,421,421. The Charles Schwab Corporation has a 12-month low of $62.41 and a 12-month high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $171.12 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The firm's 50 day simple moving average is $95.42 and its 200 day simple moving average is $87.33.

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

Charles Schwab Dividend Announcement

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

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 outstanding shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the firm'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 transaction, the chairman directly owned 590,734 shares of the company's stock, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,213 shares of company stock worth $26,232,180 in the last three months. Company insiders own 6.30% of the company's stock.

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.