Quantitative Investment Management LLC Has $1.08 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Quantitative Investment Management LLC reduced its holdings in The Charles Schwab Corporation by 20.1%, now owning 13,826 shares worth approximately $1.08 million at the end of the first quarter.
• Multiple brokerage firms have recently raised their price targets for Charles Schwab, with Morgan Stanley increasing its target from $117 to $131 and maintaining an "overweight" rating.
• Charles Schwab has approved a $20 billion share repurchase program, allowing it to buy back up to 11.6% of its stock, indicating confidence in the company's valuation.

Quantitative Investment Management LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 20.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,826 shares of the financial services provider's stock after selling 3,476 shares during the period. Quantitative Investment Management LLC's holdings in Charles Schwab were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Atwood & Palmer Inc. acquired a new stake in Charles Schwab in the 1st quarter valued at about $25,000. Westside Investment Management Inc. lifted its stake 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 last quarter. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the 1st quarter valued at about $31,000. WFA Asset Management Corp acquired a new stake in Charles Schwab in the 1st quarter valued at about $33,000. Finally, Cornerstone Planning Group LLC lifted its stake in Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 220 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on SCHW. Morgan Stanley raised their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Truist Financial raised their price objective on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Cowen restated a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. TD Securities raised their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Piper Sandler raised their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Sixteen 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.60.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $95.6510 on Monday. The company's 50 day simple moving average is $93.85 and its 200 day simple moving average is $85.38. The stock has a market capitalization of $173.63 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is 29.03%.

Charles Schwab declared that its Board of Directors has approved a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the transaction, the insider directly owned 15,219 shares of the company's stock, valued at $1,332,727.83. This trade represents a 15.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director directly owned 105,654 shares in the company, valued at $9,303,891.24. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,340 shares of company stock valued at $24,250,303 over the last three months. 6.30% of the stock is owned by corporate insiders.

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.

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