The Charles Schwab Corporation $SCHW Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. increased its stake in Charles Schwab by 43.9% during the first quarter, owning 114,761 shares valued at approximately $8.98 million.
• Charles Schwab reported an earnings per share (EPS) of $1.14 for the last quarter, exceeding estimates, with a net revenue of $5.85 billion, reflecting a 24.8% increase year-over-year.
• Insider transactions disclosed notable sales, including Chairman Walter W. Bettinger, who sold 173,876 shares, representing a 22.74% decrease in his ownership of the stock.

Meiji Yasuda Asset Management Co Ltd. lifted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 43.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,761 shares of the financial services provider's stock after buying an additional 35,002 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Charles Schwab were worth $8,983,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bain Capital Public Equity Management II LLC bought a new stake in Charles Schwab during the 1st quarter valued at $79,605,000. Independent Advisor Alliance boosted its position in Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock valued at $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock worth $92,493,000 after acquiring an additional 68,858 shares in the last quarter. World Investment Advisors lifted its position in Charles Schwab by 7.6% during the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock worth $12,760,000 after acquiring an additional 11,505 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Charles Schwab by 17.2% during the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after purchasing an additional 29,255 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $92.09 on Monday. The company's 50 day simple moving average is $95.20 and its two-hundred day simple moving average is $86.38. The stock has a market capitalization of $167.15 billion, a PE ratio of 24.75, a P/E/G ratio of 0.91 and a beta of 0.96. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year 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 released its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the firm earned $0.73 EPS. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared 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 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's payout ratio is currently 29.03%.

Charles Schwab announced that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCHW. Cowen reiterated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Raymond James Financial restated an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. Bank of America raised their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research note on Monday, July 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $99.60.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 298,214 shares of company stock valued at $29,022,580. Insiders own 6.30% of the company's stock.

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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