Ilmarinen Mutual Pension Insurance Co Has $12.29 Million Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Ilmarinen Mutual Pension Insurance Co decreased its stake in The Charles Schwab Corporation by 16%, selling 30,000 shares, and currently holds 156,971 shares valued at $12.29 million.
• Charles Schwab recently declared a quarterly dividend of $0.27 per share, reflecting an annualized dividend of $1.08 and a yield of 1.2% with a payout ratio of 29.03%.
• The firm announced a stock buyback plan worth $20 billion, indicating management believes its shares are undervalued, allowing repurchase of up to 11.6% of its stock.

Ilmarinen Mutual Pension Insurance Co lowered its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,971 shares of the financial services provider's stock after selling 30,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Charles Schwab were worth $12,288,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SCHW. Atwood & Palmer Inc. acquired a new position in Charles Schwab during the first quarter worth $25,000. Westside Investment Management Inc. grew 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 worth $27,000 after acquiring an additional 150 shares during the period. Stone House Investment Management LLC acquired a new position in Charles Schwab during the first quarter worth $31,000. Activest Wealth Management grew its holdings in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after acquiring an additional 399 shares during the period. Finally, WFA Asset Management Corp acquired a new position in Charles Schwab during the first quarter worth $33,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Down 0.5%

NYSE SCHW traded down $0.44 during mid-day trading on Friday, reaching $93.50. 7,701,819 shares of the company's stock traded hands, compared to its average volume of 8,512,390. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $95.41 and a 200-day simple moving average of $86.76. The Charles Schwab Corporation has a 1-year low of $61.81 and a 1-year high of $99.59. The company has a market cap of $169.72 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 0.93 and a beta of 0.96.

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, topping analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Charles Schwab's dividend payout ratio (DPR) is 29.03%.

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

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Piper Sandler upped their price objective on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Finally, Citigroup upped their price objective on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Charles Schwab has an average rating of "Moderate Buy" and a consensus target price of $99.60.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares of the company's stock, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider directly owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 298,214 shares of company stock worth $29,022,580 in the last quarter. Company insiders own 6.30% of the company's stock.

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.