Fiduciary Management Inc. WI Has $362.58 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Fiduciary Management Inc. WI reduced its stake in Charles Schwab Corporation by 3.1%, making it the 4th largest position in their portfolio with 4,631,869 shares valued at approximately $362.6 million.
• The company initiated a $20 billion stock buyback program, indicating leadership's belief in the stock being undervalued, while also announcing a quarterly dividend of $0.27 per share.
• Significant increases in stake were reported from major institutional investors, with Vanguard Group Inc. raising its stake by 15.4%, and Wellington Management Group LLP increasing theirs by a notable 595.7% during the same period.

Fiduciary Management Inc. WI lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,631,869 shares of the financial services provider's stock after selling 148,649 shares during the period. Charles Schwab comprises approximately 3.5% of Fiduciary Management Inc. WI's holdings, making the stock its 4th biggest holding. Fiduciary Management Inc. WI owned about 0.26% of Charles Schwab worth $362,583,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Northern Trust Corp grew its holdings in Charles Schwab by 10.8% during the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider's stock valued at $1,365,227,000 after purchasing an additional 1,700,384 shares in the last quarter. Invesco Ltd. grew its holdings in Charles Schwab by 5.0% during the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock valued at $1,220,107,000 after purchasing an additional 743,906 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider's stock valued at $1,212,461,000 after purchasing an additional 13,262,309 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SCHW shares. JMP Securities raised their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a report on Monday, July 21st. Barclays raised their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Truist Financial raised their price target on shares of Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a report on Friday, August 15th. TD Securities raised their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an "overweight" rating in a report on Friday, July 18th. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $99.60.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the sale, the insider directly owned 41,188 shares of the company's stock, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, 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 250,340 shares of company stock valued at $24,250,303 in the last ninety days. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Down 0.2%

NYSE SCHW traded down $0.1690 during trading hours on Friday, reaching $95.6510. 12,859,422 shares of the company traded hands, compared to its average volume of 8,160,454. The Charles Schwab Corporation has a 12 month low of $61.16 and a 12 month high of $99.59. 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 stock has a market capitalization of $173.63 billion, a PE ratio of 25.71, a PEG ratio of 0.94 and a beta of 0.96. The company has a 50 day moving average of $93.85 and a two-hundred day moving average of $85.38.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the firm posted $0.73 EPS. The firm's revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio is 29.03%.

Charles Schwab announced that its Board of Directors has authorized a share buyback 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 repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

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.