Munich Reinsurance Co Stock Corp in Munich Buys 14,246 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Munich Reinsurance increased its Charles Schwab stake by 9.8% in the second quarter, buying 14,246 shares to own 159,656 shares valued at approximately $14.7 million. Institutional investors collectively own 84.38% of SCHW.
• Charles Schwab reported quarterly EPS of $1.62, beating estimates of $1.56, while revenue rose 20.9% year over year to $7.07 billion. The company also pays a quarterly dividend of $0.32 per share, yielding about 1.2% annually.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $121.17. Recent targets range from $127 to $145, although insiders sold roughly $69.9 million of shares over the past 90 days.

Munich Reinsurance Co Stock Corp in Munich lifted its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,656 shares of the financial services provider's stock after buying an additional 14,246 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in Charles Schwab were worth $14,731,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SCHW. Raiffeisen Bank International AG increased its holdings in Charles Schwab by 99.2% during the 2nd quarter. Raiffeisen Bank International AG now owns 63,127 shares of the financial services provider's stock worth $5,716,000 after acquiring an additional 31,442 shares during the period. Continuum Advisory LLC purchased a new stake in Charles Schwab in the 2nd quarter worth approximately $458,000. Birch Capital Management LLC boosted its holdings in Charles Schwab by 5.8% in the 2nd quarter. Birch Capital Management LLC now owns 74,765 shares of the financial services provider's stock valued at $6,899,000 after purchasing an additional 4,132 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of Charles Schwab during the 2nd quarter valued at $1,315,000. Finally, Provident Trust Co. grew its position in shares of Charles Schwab by 0.4% during the 2nd quarter. Provident Trust Co. now owns 3,716,441 shares of the financial services provider's stock valued at $342,916,000 after purchasing an additional 13,616 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $109.43 on Friday. The stock's 50-day moving average is $105.23 and its 200 day moving average is $96.78. The stock has a market cap of $189.24 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 0.96 and a beta of 0.76. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $114.53. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The business's quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. Charles Schwab's dividend payout ratio (DPR) is currently 23.27%.

Insider Buying and Selling

In related news, insider Dennis Howard sold 28,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the transaction, the insider directly owned 10,470 shares in the company, valued at $1,099,454.70. This trade represents a 72.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula A. Sneed sold 5,263 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $107.15, for a total value of $563,930.45. Following the completion of the sale, the director owned 91,711 shares of the company's stock, valued at $9,826,833.65. The trade was a 5.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 649,582 shares of company stock worth $69,948,015 over the last 90 days. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on Charles Schwab from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Raymond James Financial reaffirmed an "outperform" rating and issued a $145.00 price target on shares of Charles Schwab in a report on Wednesday, July 22nd. Wolfe Research reiterated an "outperform" rating and set a $127.00 price target on shares of Charles Schwab in a research report on Tuesday, July 21st. TD Cowen boosted their price objective on Charles Schwab from $108.00 to $109.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Finally, Zacks Research raised shares of Charles Schwab from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $121.17.

Charles Schwab Company Profile

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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