The Charles Schwab Corporation $SCHW Shares Bought by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. significantly increased its holdings in The Charles Schwab Corporation by 229.4% during the second quarter, now owning 18,129 shares valued at approximately $1.65 million.
• Charles Schwab recently announced a quarterly dividend of $0.27 per share, with a yield of 1.1%, and has authorized a $20 billion stock repurchase program.
• Analysts have mixed ratings on Charles Schwab's stock, with a consensus rating of "Moderate Buy" and a price target of $100.52, indicating a generally favorable outlook amidst varying opinions.

LGT Fund Management Co Ltd. increased its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 229.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,129 shares of the financial services provider's stock after purchasing an additional 12,625 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Charles Schwab were worth $1,654,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SCHW. Brighton Jones LLC raised its holdings in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after purchasing an additional 19,195 shares during the period. Vest Financial LLC raised its holdings in Charles Schwab by 73.5% in the 1st quarter. Vest Financial LLC now owns 14,845 shares of the financial services provider's stock worth $1,162,000 after purchasing an additional 6,289 shares during the period. Magnus Financial Group LLC acquired a new position in Charles Schwab in the 1st quarter worth about $211,000. Procyon Advisors LLC raised its holdings in shares of Charles Schwab by 35.5% during the first quarter. Procyon Advisors LLC now owns 6,567 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 1,719 shares during the last quarter. Finally, DHK Financial Advisors Inc. acquired a new position in shares of Charles Schwab during the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Analyst Ratings Changes

SCHW has been the subject of a number of research analyst reports. Raymond James Financial reissued an "outperform" rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. William Blair cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Zacks Research cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Morgan Stanley reduced their target price on Charles Schwab to $130.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Truist Financial set a $112.00 target price on Charles Schwab in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $100.52.

Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the 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 completion of the transaction, the chairman owned 590,734 shares of the company's stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 in the last ninety days. Company insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

SCHW stock opened at $94.13 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The business has a 50 day simple moving average of $95.37 and a 200-day simple moving average of $88.64. The firm has a market capitalization of $170.87 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a 1 year low of $64.07 and a 1 year 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business's revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio is presently 29.03%.

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

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.