Vanguard Personalized Indexing Management LLC lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 26.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,538 shares of the financial services provider's stock after buying an additional 40,275 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Charles Schwab were worth $17,387,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Bain Capital Public Equity Management II LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth approximately $79,605,000. Independent Advisor Alliance increased its position in shares of Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock worth $3,061,000 after purchasing an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock worth $92,493,000 after purchasing an additional 68,858 shares in the last quarter. PFG Investments LLC increased its position in shares of Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider's stock worth $543,000 after purchasing an additional 550 shares in the last quarter. Finally, United Services Automobile Association increased its position in shares of Charles Schwab by 14.1% during the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider's stock worth $3,074,000 after purchasing an additional 4,869 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Charles Schwab
In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider 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 disclosure for this sale can be found here. In the last quarter, insiders sold 267,128 shares of company stock worth $26,232,077. Insiders own 6.30% of the company's stock.
Charles Schwab Stock Down 2.1%
Shares of NYSE:SCHW opened at $92.08 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $94.97 and a two-hundred day moving average of $89.13. The stock has a market cap of $167.15 billion, a P/E ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.
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, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during 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 period in the prior year, the business earned $0.73 EPS. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.
Charles Schwab declared that its board has initiated a stock buyback 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 reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.
Charles Schwab Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab's dividend payout ratio is currently 29.03%.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Citigroup boosted their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. BMO Capital Markets assumed coverage on Charles Schwab in a research report on Friday, October 3rd. They set an "outperform" rating and a $110.00 price target for the company. JMP Securities boosted their price target on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research report on Monday, July 21st. Truist Financial set a $112.00 price target on Charles Schwab in a research report on Thursday, October 2nd. Finally, Morgan Stanley dropped their target price on Charles Schwab to $130.00 and set an "overweight" rating for the company in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and an average price target of $100.57.
Read Our Latest Analysis on Charles Schwab
Charles Schwab Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).
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