The Charles Schwab Corporation $SCHW Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Charles Schwab by 4.7%, acquiring an additional 2,948 shares, bringing its total holdings to 65,891 shares valued at $5.16 million.
• Several analysts have raised their price targets for Charles Schwab, with a consensus rating of "Moderate Buy" and an average price target of $99.60.
• Charles Schwab announced a $20 billion share repurchase plan, indicating the board's belief that the company's shares are undervalued.

OMERS ADMINISTRATION Corp boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,891 shares of the financial services provider's stock after buying an additional 2,948 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Charles Schwab were worth $5,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new position in Charles Schwab during the first quarter valued at $25,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab during the first quarter valued at $31,000. WFA Asset Management Corp purchased a new position in Charles Schwab during the first quarter valued at $33,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Charles Schwab by 90.5% during the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on SCHW shares. Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. JMP Securities increased their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a report on Monday, July 21st. Bank of America boosted their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research report on Monday, July 21st. Citigroup boosted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, TD Securities boosted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.60.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the transaction, the insider directly owned 39,154 shares in the company, valued at $3,524,251.54. The trade was a 20.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the business'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 transaction of $2,359,239.36. Following the completion of the sale, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 238,843 shares of company stock worth $23,239,273 in the last ninety days. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Performance

NYSE:SCHW opened at $97.12 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 firm has a market capitalization of $176.30 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 0.95 and a beta of 0.96. The company's 50-day moving average is $94.45 and its two-hundred day moving average is $85.74. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.73 EPS. Analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued 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 payout ratio is presently 29.03%.

Charles Schwab announced that its board has initiated a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are 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.

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