Quantbot Technologies LP Sells 172,128 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Quantbot Technologies LP significantly reduced its stake in The Charles Schwab Corporation by 98.3%, owning just 3,036 shares at the end of the first quarter after selling 172,128 shares.
• Several institutional investors, including Sheaff Brock Investment Advisors LLC and HM Payson & Co., have increased their positions in Charles Schwab, indicating a mixed sentiment among investors.
• Charles Schwab announced a $20 billion share repurchase program, reflecting confidence in its stock valuation, along with a quarterly dividend of $0.27 paid to shareholders in August.

Quantbot Technologies LP trimmed its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 98.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,036 shares of the financial services provider's stock after selling 172,128 shares during the period. Quantbot Technologies LP's holdings in Charles Schwab were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sheaff Brock Investment Advisors LLC grew its position in Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after purchasing an additional 129 shares during the last quarter. HM Payson & Co. grew its position in Charles Schwab by 0.7% in the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 130 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in Charles Schwab by 2.1% in the 1st quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock worth $513,000 after purchasing an additional 132 shares during the last quarter. Journey Strategic Wealth LLC boosted its position in shares of Charles Schwab by 3.1% during the 1st quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider's stock valued at $351,000 after acquiring an additional 135 shares in the last quarter. Finally, Meridian Wealth Management LLC boosted its position in shares of Charles Schwab by 2.2% during the 1st quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider's stock valued at $485,000 after acquiring an additional 136 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SCHW shares. Morgan Stanley lifted their price target on shares of Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Truist Financial lifted their price target on shares of Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a report on Friday, August 15th. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. Bank of America boosted their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research note on Monday, July 21st. Finally, Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Sixteen 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 company. According to MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average target price of $99.60.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the transaction, the insider owned 39,154 shares of the company's stock, valued at $3,524,251.54. This trade represents a 20.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 298,299 shares of company stock valued at $29,005,931. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Trading Down 1.2%

NYSE SCHW traded down $1.18 during trading on Friday, reaching $95.91. 8,829,399 shares of the stock traded hands, compared to its average volume of 7,885,997. The firm has a market cap of $174.10 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 0.96 and a beta of 0.96. The stock's 50-day moving average price is $94.58 and its 200 day moving average price is $85.83. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a fifty-two week low of $61.16 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. Analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio is 29.03%.

Charles Schwab declared that its board has authorized a stock buyback plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are 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.