MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in The Charles Schwab Corporation $SCHW

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 19.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,363 shares of the financial services provider's stock after buying an additional 39,228 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Charles Schwab were worth $19,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Integrated Wealth Concepts LLC grew its stake in Charles Schwab by 7.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 12,398 shares of the financial services provider's stock valued at $971,000 after buying an additional 887 shares in the last quarter. Interval Partners LP grew its stake in Charles Schwab by 152.6% in the 1st quarter. Interval Partners LP now owns 174,875 shares of the financial services provider's stock valued at $13,689,000 after buying an additional 105,649 shares in the last quarter. Cinctive Capital Management LP purchased a new position in Charles Schwab in the 1st quarter valued at approximately $5,902,000. Concentric Capital Strategies LP purchased a new position in Charles Schwab in the 1st quarter valued at approximately $6,581,000. Finally, Copperleaf Capital LLC grew its stake in Charles Schwab by 6.7% in the 1st quarter. Copperleaf Capital LLC now owns 24,449 shares of the financial services provider's stock valued at $1,914,000 after buying an additional 1,526 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SCHW. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and boosted their price target for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Barclays upped their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup upped their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Bank of America upped their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a report on Monday, July 21st. Finally, 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. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $99.60.

Charles Schwab Stock Down 5.7%

Shares of NYSE:SCHW opened at $92.09 on Monday. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week high of $99.59. The firm has a fifty day moving average of $95.20 and a 200 day moving average of $86.38. The firm has a market capitalization of $167.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced 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 company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the business 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 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab's payout ratio is 29.03%.

Charles Schwab declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 6,144 shares of the company's 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 directly owned 11,923 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the sale, the insider directly owned 39,154 shares of the company's stock, valued at $3,524,251.54. This represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 298,214 shares of company stock valued at $29,022,580 in the last three months. 6.30% of the stock is owned by corporate insiders.

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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