The Charles Schwab Corporation $SCHW Shares Sold by Mission Creek Capital Partners Inc.

Key Points

• Mission Creek Capital Partners Inc. reduced its holdings in Charles Schwab by 25.8%, selling 2,952 shares, and now holds a total of 8,491 shares valued at approximately $665,000.
• Institutional investors significantly increased their stakes in Charles Schwab, with notable increases including Vanguard Group (up 15.4%) and Wellington Management Group (up 595.7%).
• Charles Schwab's recent quarterly earnings report showed a 24.8% increase in revenue year-over-year, reporting $5.85 billion in revenue and earnings per share of $1.14, exceeding expectations.

Mission Creek Capital Partners Inc. reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 25.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,491 shares of the financial services provider's stock after selling 2,952 shares during the quarter. Mission Creek Capital Partners Inc.'s holdings in Charles Schwab were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. increased its stake in Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP increased its stake in Charles Schwab by 595.7% in the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider's stock valued at $1,212,461,000 after purchasing an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA increased its stake in Charles Schwab by 229.3% in the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider's stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Charles Schwab in the first quarter valued at $440,699,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. JMP Securities boosted their price target on Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Citigroup boosted their price target on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, Piper Sandler boosted their price target on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently 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 the stock in a transaction dated 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 approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value 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 $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 238,843 shares of company stock valued at $23,239,273. Insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $97.12 on Friday. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59. The business has a 50-day moving average of $94.45 and a 200-day moving average of $85.74. 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 company 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.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The company's revenue was up 24.8% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS 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 issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's dividend payout ratio is currently 29.03%.

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

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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