The Charles Schwab Corporation $SCHW Shares Acquired by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in The Charles Schwab Corporation by 2.1% in Q2, owning 696,105 shares valued at $63.5 million.
• Insider selling has been notable, with Chairman Walter W. Bettinger selling 173,876 shares valued at approximately $17.2 million, reflecting a 22.74% decrease in his stake.
• Charles Schwab recently announced a $20 billion stock repurchase program, allowing it to buy back up to 11.6% of its shares, indicating management's belief that the stock is undervalued.

Public Employees Retirement System of Ohio grew its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 696,105 shares of the financial services provider's stock after purchasing an additional 14,503 shares during the period. Public Employees Retirement System of Ohio's holdings in Charles Schwab were worth $63,513,000 at the end of the most recent quarter.

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

Insider Activity

In related news, insider Paul V. Woolway sold 3,205 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total transaction of $305,116.00. Following the sale, the insider owned 37,983 shares of the company's stock, valued at $3,615,981.60. The trade was a 7.78% 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, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,213 shares of company stock valued at $26,232,180 over the last 90 days. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Down 0.6%

NYSE:SCHW opened at $93.89 on Wednesday. The company has a market capitalization of $170.43 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a one year low of $62.41 and a one year high of $99.59. The stock has a 50-day simple moving average of $95.50 and a 200 day simple moving average of $87.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The firm 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%. Charles Schwab's revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. Sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has authorized a stock repurchase 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 repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab's payout ratio is presently 29.03%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SCHW shares. Raymond James Financial restated an "outperform" rating and issued a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Barclays lifted their price target on Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Bank of America boosted their target price on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Sixteen investment 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $100.00.

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.

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