The Charles Schwab Corporation $SCHW Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in The Charles Schwab Corporation by 5.5% in Q2, now holding 396,106 shares valued at approximately $35.67 million.
• Charles Schwab reported $1.31 earnings per share for the last quarter, surpassing estimates, and showed a 26.6% year-over-year revenue increase.
• The company has initiated a $20 billion stock buyback program, aiming to buy back up to 11.6% of its stock, indicating confidence in its share value.

DekaBank Deutsche Girozentrale lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,106 shares of the financial services provider's stock after selling 23,212 shares during the period. DekaBank Deutsche Girozentrale's holdings in Charles Schwab were worth $35,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SCHW. Princeton Global Asset Management LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth $25,000. Westside Investment Management Inc. boosted its position in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares during the period. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at $27,000. CBIZ Investment Advisory Services LLC grew its position in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in Charles Schwab during the 1st quarter worth approximately $31,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing 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 transaction, the insider directly owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last three months. Company insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $95.12 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The business's fifty day moving average price is $94.55 and its two-hundred day moving average price is $89.98. The stock has a market cap of $172.66 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business's revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 earnings per share. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio is 25.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SCHW. Morgan Stanley cut their target price on Charles Schwab to $130.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 1st. Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Cowen reissued a "buy" rating on shares of Charles Schwab in a research note on Friday. Citigroup boosted their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, JMP Securities restated a "market outperform" rating and issued a $110.00 price target on shares of Charles Schwab in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned 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 target price of $106.00.

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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