The Charles Schwab Corporation $SCHW Shares Acquired by Mitsubishi UFJ Asset Management UK Ltd.

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in Charles Schwab by 58.3% during the second quarter, bringing its total to 19,000 shares valued at approximately $1.73 million.
• Insider sales totaled 263,923 shares worth nearly $25.9 million over the last ninety days, indicating a significant decrease in insider ownership with key figures selling large quantities of stock.
• Charles Schwab reported a quarterly EPS of $1.14, exceeding estimates, with revenue of $5.85 billion, which is a 24.8% year-over-year increase.

Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 58.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,000 shares of the financial services provider's stock after purchasing an additional 7,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Charles Schwab were worth $1,734,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab during the first quarter worth $25,000. Westside Investment Management Inc. boosted its holdings in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Charles Schwab during the first quarter worth $31,000. Finally, Activest Wealth Management boosted its holdings in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after purchasing an additional 399 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the transaction, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,923 shares of company stock worth $25,932,955 over the last ninety days. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Zacks Research cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Charles Schwab from $114.00 to $113.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Bank of America lifted their target price on Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a report on Monday, July 21st. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Finally, Truist Financial lifted their target price on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a report on Friday, August 15th. Sixteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

Charles Schwab Trading Down 1.5%

Shares of SCHW opened at $95.45 on Wednesday. The stock's 50-day moving average is $95.56 and its two-hundred day moving average is $88.33. The stock has a market cap of $173.26 billion, a PE ratio of 25.66, a P/E/G ratio of 0.96 and a beta of 0.96. The Charles Schwab Corporation has a 12 month low of $62.41 and a 12 month high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

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

Charles Schwab declared that its Board of Directors has initiated a share buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

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

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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