Lbp Am Sa Grows Stock Position in The Charles Schwab Corporation $SCHW

Key Points

• Lbp Am Sa increased its holdings in Charles Schwab by 251.7% during the second quarter, accumulating a total of 164,623 shares valued at approximately $15 million.
• Several other institutional investors have also adjusted their positions in Charles Schwab, with 84.38% of the stock currently owned by hedge funds and institutional entities.
• Charles Schwab's stock has received multiple price target raises from analysts, with a consensus rating of "Moderate Buy" and a target price of $100.

Lbp Am Sa raised its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 251.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 164,623 shares of the financial services provider's stock after buying an additional 117,817 shares during the quarter. Lbp Am Sa's holdings in Charles Schwab were worth $15,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc lifted its position in shares of Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock valued at $3,813,000 after acquiring an additional 110 shares in the last quarter. Traveka Wealth LLC lifted its position in Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock worth $259,000 after buying an additional 117 shares in the last quarter. Bank of Stockton lifted its position in Charles Schwab by 1.2% during the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider's stock worth $967,000 after buying an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Charles Schwab by 1.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after buying an additional 129 shares in the last quarter. Finally, HM Payson & Co. lifted its position in Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after buying an additional 130 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCHW has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Piper Sandler lifted their price objective on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Truist Financial lifted their price objective on Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Finally, Morgan Stanley lifted their price objective on Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $100.00.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company's stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the completion of the sale, the insider directly owned 37,983 shares of the company's stock, valued at $3,615,981.60. The trade was a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 263,923 shares of company stock valued at $25,932,955. Insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

SCHW stock opened at $95.45 on Wednesday. The business has a fifty day moving average of $95.56 and a two-hundred day moving average of $88.33. 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 stock has a market cap of $173.26 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.96. The Charles Schwab Corporation has a 52-week low of $62.41 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results 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 return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. 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 presently 29.03%.

Charles Schwab announced that its Board of Directors has authorized a share 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 purchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

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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