Mn Services Vermogensbeheer B.V. Boosts Position in The Charles Schwab Corporation $SCHW

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in The Charles Schwab Corporation by 16.8%, acquiring an additional 92,400 shares in the second quarter, bringing its total shares to 644,000 valued at approximately $58.8 million.
• Charles Schwab reported a quarterly earnings per share (EPS) of $1.14, surpassing estimates, and a revenue of $5.85 billion, marking a 24.8% increase from the previous year.
• The company has initiated a $20 billion buyback program, allowing it to buy back up to 11.6% of its shares, reflecting management’s belief that the stock is undervalued.

Mn Services Vermogensbeheer B.V. grew its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 644,000 shares of the financial services provider's stock after buying an additional 92,400 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Charles Schwab were worth $58,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SCHW. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab in the first quarter valued at about $25,000. Westside Investment Management Inc. grew its position in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab in the 1st quarter valued at about $31,000. Finally, Activest Wealth Management grew its holdings in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after purchasing an additional 399 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $0.99 on Friday, reaching $94.27. 14,854,005 shares of the company's stock were exchanged, compared to its average volume of 9,421,421. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $171.12 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 0.92 and a beta of 0.96. The company has a fifty day moving average of $95.42 and a 200-day moving average of $87.26. The Charles Schwab Corporation has a twelve month low of $62.41 and a twelve month high of $99.59.

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 for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. Charles Schwab's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. On average, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio is currently 29.03%.

Charles Schwab announced that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. 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. Bank of America increased their target price on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Citigroup upped their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Truist Financial increased their price target on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Sixteen equities 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.00.

Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold 267,213 shares of company stock worth $26,232,180 over the last 90 days. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Company 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.