Nordea Investment Management AB Boosts Position in The Charles Schwab Corporation $SCHW

Key Points

• Nordea Investment Management AB increased its stake in The Charles Schwab Corporation by 2.8% during the second quarter, owning approximately 2.73 million shares valued at $248.5 million.
• Analysts have varying price targets for Charles Schwab, with Keefe, Bruyette & Woods raising their target to $108.00, while the average price target across analysts stands at $101.85.
• Charles Schwab reported an earnings per share of $1.31 for the latest quarter, exceeding estimates, with a significant revenue increase of 26.6% year-over-year to $6.14 billion.

Nordea Investment Management AB boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,734,960 shares of the financial services provider's stock after acquiring an additional 74,308 shares during the quarter. Nordea Investment Management AB owned 0.15% of Charles Schwab worth $248,539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new stake in Charles Schwab during the second quarter valued at $69,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Charles Schwab during the second quarter valued at $480,000. Tlwm increased its position in Charles Schwab by 0.7% during the second quarter. Tlwm now owns 17,687 shares of the financial services provider's stock valued at $1,614,000 after acquiring an additional 120 shares during the last quarter. WealthPlan Investment Management LLC increased its position in Charles Schwab by 50.3% in the second quarter. WealthPlan Investment Management LLC now owns 5,094 shares of the financial services provider's stock worth $465,000 after buying an additional 1,705 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in Charles Schwab by 0.5% in the second quarter. New York State Teachers Retirement System now owns 1,257,498 shares of the financial services provider's stock worth $114,734,000 after buying an additional 6,422 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Truist Financial set a $112.00 price target on Charles Schwab in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on Charles Schwab from $114.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Citigroup upped their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.85.

Charles Schwab Stock Performance

NYSE:SCHW opened at $93.38 on Friday. 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 Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The stock has a 50-day moving average price of $94.74 and a 200 day moving average price of $89.47. The stock has a market capitalization of $169.51 billion, a P/E ratio of 25.10, a P/E/G ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $6.14 billion during the quarter, compared to analysts' expectations of $5.93 billion. During the same quarter last year, the business posted $0.71 earnings per share. The firm's revenue was up 26.6% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab declared that its board has authorized 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 buy up to 11.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the transaction, the insider owned 58,999 shares in the company, valued at $5,776,592.09. This trade represents a 29.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 11,923 shares of the company's stock, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 over the last three months. 6.30% of the stock is owned by company 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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