Titan Global Capital Management USA LLC Sells 48,182 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Titan Global Capital Management USA LLC reduced its holdings in The Charles Schwab Corporation by 16.9%, now owning approximately $18.54 million worth of shares, which account for 3.8% of its total portfolio.
• During the first quarter, several institutional investors including Vanguard Group and Wellington Management significantly increased their stakes in Charles Schwab, highlighting strong institutional interest in the stock.
• Charles Schwab announced a $20 billion share buyback plan and declared a quarterly dividend of $0.27 per share, demonstrating its commitment to returning value to shareholders.

Titan Global Capital Management USA LLC cut its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,792 shares of the financial services provider's stock after selling 48,182 shares during the quarter. Charles Schwab accounts for about 3.8% of Titan Global Capital Management USA LLC's investment portfolio, making the stock its 13th largest holding. Titan Global Capital Management USA LLC's holdings in Charles Schwab were worth $18,536,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC bought a new stake in shares of Charles Schwab in the fourth quarter worth approximately $1,455,000. Independent Advisor Alliance grew its stake in shares of Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock worth $3,061,000 after acquiring an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock worth $92,493,000 after acquiring an additional 68,858 shares during the period. Graham Capital Management L.P. grew its stake in shares of Charles Schwab by 248.3% in the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock worth $8,317,000 after acquiring an additional 80,112 shares during the period. Finally, World Investment Advisors grew its stake in shares of Charles Schwab by 7.6% in the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock worth $12,760,000 after acquiring an additional 11,505 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Performance

NYSE SCHW traded down $0.1690 on Friday, reaching $95.6510. 12,859,422 shares of the stock were exchanged, compared to its average volume of 8,160,454. The Charles Schwab Corporation has a one year low of $61.16 and a one year high of $99.59. The firm has a market capitalization of $173.63 billion, a PE ratio of 25.71, a PEG ratio of 0.94 and a beta of 0.96. The company's 50-day simple moving average is $93.85 and its two-hundred day simple moving average is $85.38. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

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. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter last year, the business earned $0.73 EPS. The firm's revenue was up 24.8% compared to the same quarter last year. Analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is 29.03%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the sale, the insider directly owned 41,188 shares of the company's stock, valued at $3,956,519.28. This trade represents a 7.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,340 shares of company stock worth $24,250,303. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research reports. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Piper Sandler raised their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. TD Securities upped their price target on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Bank of America upped their price target on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research report on Monday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $99.60.

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.