MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Boosts Holdings in The Charles Schwab Corporation $SCHW

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its ownership in The Charles Schwab Corporation by 51.7% during the second quarter, now holding 30,556 shares valued at approximately $2.79 million.
• Other institutional investors, including Vanguard Group and Price T Rowe Associates, have also significantly increased their stakes in Charles Schwab, contributing to a total institutional ownership of 84.38%.
• Charles Schwab announced a quarterly dividend of $0.27 per share and has authorized a share repurchase plan worth $20 billion, indicating confidence in the company's stock valuation.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 51.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,556 shares of the financial services provider's stock after acquiring an additional 10,413 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Charles Schwab were worth $2,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock valued at $6,422,795,000 after acquiring an additional 8,954,248 shares during the last quarter. Northern Trust Corp lifted its position in Charles Schwab by 10.8% during the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider's stock valued at $1,365,227,000 after acquiring an additional 1,700,384 shares during the last quarter. Alliancebernstein L.P. lifted its position in Charles Schwab by 16.0% during the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider's stock valued at $1,339,822,000 after acquiring an additional 2,355,309 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Charles Schwab by 5.0% in the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock worth $1,220,107,000 after buying an additional 743,906 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders have sold a total of 267,213 shares of company stock valued at $26,232,180 over the last quarter. Insiders own 6.30% of the company's stock.

Charles Schwab Trading Up 2.6%

Shares of Charles Schwab stock opened at $94.75 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a fifty day moving average price of $95.55 and a 200 day moving average price of $87.79. The Charles Schwab Corporation has a 1 year low of $62.41 and a 1 year high of $99.59. The stock has a market cap of $171.99 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96.

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

Charles Schwab declared that its board has authorized a share repurchase 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 buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Charles Schwab Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SCHW. Piper Sandler raised their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Zacks Research cut shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Sixteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.00.

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.

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