Mackenzie Financial Corp Buys 199,363 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Mackenzie Financial Corp raised its stake in The Charles Schwab Corporation by 30.6%, buying 199,363 shares to hold 850,757 shares valued at about $81.22 million, and institutional investors now own roughly 84.38% of the stock.
• Company insiders have been net sellers — directors Christopher V. Dodds and Nigel J. Murtagh sold shares recently, and insiders offloaded 415,568 shares worth $42.64 million in the last quarter, leaving insiders with about 6.30% ownership.
• Analysts have pushed up targets and the stock carries a consensus "Moderate Buy" rating with a $115.95 target after Schwab beat quarterly EPS and revenue estimates and raised its quarterly dividend to $0.32 (annualized $1.28, ~1.4% yield).

Mackenzie Financial Corp lifted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 30.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 850,757 shares of the financial services provider's stock after buying an additional 199,363 shares during the period. Mackenzie Financial Corp's holdings in Charles Schwab were worth $81,222,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. West Branch Capital LLC purchased a new stake in shares of Charles Schwab during the third quarter valued at approximately $27,000. Evelyn Partners Asset Management Ltd purchased a new position in shares of Charles Schwab in the second quarter worth $33,000. Howard Hughes Medical Institute purchased a new position in shares of Charles Schwab in the second quarter worth $34,000. Redmont Wealth Advisors LLC bought a new stake in Charles Schwab during the 3rd quarter valued at $34,000. Finally, FSA Wealth Management LLC bought a new stake in Charles Schwab during the 2nd quarter valued at $36,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Christopher V. Dodds sold 11,825 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $104.55, for a total value of $1,236,303.75. Following the sale, the director directly owned 449,406 shares of the company's stock, valued at $46,985,397.30. This represents a 2.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 7,203 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $94.61, for a total transaction of $681,475.83. Following the completion of the transaction, the insider owned 57,972 shares of the company's stock, valued at approximately $5,484,730.92. The trade was a 11.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 415,568 shares of company stock worth $42,639,058. 6.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citizens Jmp raised their price target on shares of Charles Schwab from $110.00 to $120.00 and gave the stock a "market outperform" rating in a report on Monday, January 12th. Wolfe Research set a $120.00 price objective on shares of Charles Schwab in a research note on Monday, January 12th. Barclays increased their target price on shares of Charles Schwab from $125.00 to $126.00 and gave the stock an "overweight" rating in a report on Monday, January 26th. Morgan Stanley raised their target price on Charles Schwab from $139.00 to $148.00 and gave the stock an "overweight" rating in a research note on Monday, December 22nd. Finally, Truist Financial boosted their price target on Charles Schwab from $120.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.95.

Charles Schwab Stock Down 0.5%

SCHW stock opened at $92.68 on Thursday. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $107.50. The company has a market capitalization of $162.39 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93. The business's 50 day moving average price is $99.32 and its two-hundred day moving average price is $96.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.62 and a current ratio of 0.62.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.07. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $6.19 billion. Charles Schwab had a return on equity of 21.97% and a net margin of 37.01%.The firm's revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. As a group, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a dividend of $0.32 per share. This is an increase from Charles Schwab's previous quarterly dividend of $0.27. This represents a $1.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, February 13th. Charles Schwab's payout ratio is 27.47%.

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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