The Charles Schwab Corporation (NYSE:SCHW) Shares Bought by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG increased its position in Charles Schwab Corporation by 33.7% during the first quarter, holding 13,476 shares valued at approximately $1,049,000.
• Insider sales included Nigel J. Murtagh selling 24,096 shares at an average price of $97.91, representing a 29.00% decrease in their holdings.
• Multiple analysts have raised their target prices for Charles Schwab shares, with Barclays increasing it from $106.00 to $113.00 and Morgan Stanley from $117.00 to $131.00, indicating a positive outlook on the stock.

Raiffeisen Bank International AG lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 33.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,476 shares of the financial services provider's stock after purchasing an additional 3,394 shares during the quarter. Raiffeisen Bank International AG's holdings in Charles Schwab were worth $1,049,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SCHW. Brighton Jones LLC boosted its position in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after buying an additional 19,195 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in Charles Schwab by 6.7% in the fourth quarter. Wedbush Securities Inc. now owns 15,601 shares of the financial services provider's stock valued at $1,155,000 after buying an additional 975 shares during the period. Titleist Asset Management LLC increased its stake in Charles Schwab by 13.7% in the fourth quarter. Titleist Asset Management LLC now owns 9,885 shares of the financial services provider's stock valued at $732,000 after purchasing an additional 1,191 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in Charles Schwab by 213.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,606 shares of the financial services provider's stock valued at $119,000 after purchasing an additional 1,094 shares in the last quarter. Finally, FMR LLC increased its position in shares of Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after acquiring an additional 3,974,940 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SCHW. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Truist Financial upped their price target on shares of Charles Schwab from $100.00 to $107.00 and gave the company a "buy" rating in a research note on Monday, July 21st. TD Securities upped their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $99.35.

Charles Schwab Price Performance

Charles Schwab stock traded down $0.81 during mid-day trading on Thursday, reaching $95.91. 7,260,222 shares of the company's stock traded hands, compared to its average volume of 9,161,237. The company has a market cap of $174.26 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.93 and a beta of 0.96. The stock has a 50 day moving average of $91.81 and a two-hundred day moving average of $84.11. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 12-month low of $61.16 and a 12-month high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly 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 net margin of 33.68% and a return on equity of 19.73%. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The company's quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab's payout ratio is currently 29.03%.

Charles Schwab announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Transactions at Charles Schwab

In other news, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 308,016 shares of company stock worth $29,341,433. Insiders own 6.30% of the company's stock.

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.