NFJ Investment Group LLC Makes New Investment in The Charles Schwab Corporation $SCHW

Key Points

• Nfj Investment Group LLC acquired a new position in Charles Schwab, buying 270,429 shares valued at approximately $21.17 million.
• Charles Schwab's stock is currently trading at $97.65 and has shown a 24.8% year-over-year revenue growth in its latest quarterly earnings.
• The company also announced a quarterly dividend of $0.27 per share, representing a 1.1% yield, and has authorized a stock buyback program amounting to $20 billion.

NFJ Investment Group LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 270,429 shares of the financial services provider's stock, valued at approximately $21,169,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock valued at $625,000 after acquiring an additional 129 shares in the last quarter. HM Payson & Co. lifted its holdings in Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after buying an additional 130 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of Charles Schwab by 2.1% in the 1st quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock valued at $513,000 after buying an additional 132 shares during the last quarter. Journey Strategic Wealth LLC increased its stake in shares of Charles Schwab by 3.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock valued at $351,000 after buying an additional 135 shares during the period. Finally, Meridian Wealth Management LLC lifted its stake in shares of Charles Schwab by 2.2% in the first quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider's stock worth $485,000 after acquiring an additional 136 shares during the period. Institutional investors own 84.38% of the company's stock.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company's stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total value of $305,116.00. Following the sale, the insider directly owned 37,983 shares of the company's stock, valued at $3,615,981.60. This represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 298,214 shares of company stock worth $29,022,580 over the last ninety days. Insiders own 6.30% of the company's stock.

Charles Schwab Stock Up 0.2%

NYSE:SCHW traded up $0.21 on Tuesday, hitting $93.66. The stock had a trading volume of 10,771,963 shares, compared to its average volume of 9,943,348. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 52 week low of $61.16 and a 52 week high of $99.59. The business's fifty day moving average is $95.24 and its 200 day moving average is $86.47. The company has a market cap of $170.01 billion, a PE ratio of 25.18, a P/E/G 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 for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. Charles Schwab's revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has initiated a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on SCHW shares. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and increased their target price for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Citigroup increased their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a report on Monday, July 21st. JMP Securities upped their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the stock an "overweight" rating in a research report on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.60.

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.