The Charles Schwab Corporation $SCHW Position Raised by Norinchukin Bank The

Key Points

• Norinchukin Bank increased its stake in The Charles Schwab Corporation by 27.2%, acquiring an additional 18,292 shares during the first quarter, bringing its total ownership to 85,656 shares valued at $6,705,000.
• Charles Schwab reported earnings of $1.14 per share for the recent quarter, surpassing analyst expectations of $1.10, with a significant 24.8% year-over-year revenue increase to $5.85 billion.
• The company announced a share buyback plan allowing for the repurchase of up to $20.00 billion in shares, indicating confidence from leadership regarding the company's stock valuation.

Norinchukin Bank The raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 27.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,656 shares of the financial services provider's stock after acquiring an additional 18,292 shares during the quarter. Norinchukin Bank The's holdings in Charles Schwab were worth $6,705,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC bought a new position in Charles Schwab during the 4th quarter valued at $1,455,000. Independent Advisor Alliance boosted its stake in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock valued at $3,061,000 after acquiring an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock valued at $92,493,000 after acquiring an additional 68,858 shares during the last quarter. Graham Capital Management L.P. boosted its holdings in Charles Schwab by 248.3% in the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock worth $8,317,000 after purchasing an additional 80,112 shares during the period. Finally, World Investment Advisors boosted its holdings in Charles Schwab by 7.6% in the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock worth $12,760,000 after purchasing an additional 11,505 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the sale, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paula A. Sneed sold 8,647 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the sale, the director owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,340 shares of company stock worth $24,250,303 over the last quarter. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of research reports. Piper Sandler lifted their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, William Blair downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $99.60.

Charles Schwab Stock Performance

SCHW traded down $0.1690 during trading on Friday, reaching $95.6510. 12,859,422 shares of the company were exchanged, compared to its average volume of 8,160,454. The stock has a market cap of $173.63 billion, a P/E ratio of 25.71, a PEG ratio of 0.94 and a beta of 0.96. The firm has a 50 day moving average of $93.85 and a 200 day moving average of $85.38. 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 52 week low of $61.16 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. During the same period last year, the firm earned $0.73 EPS. The firm's revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has approved a stock 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 buy up to 11.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm 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. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

About Charles Schwab

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.