UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• UBS Asset Management increased its stake in Charles Schwab by 10.1%, acquiring an additional 1,179,756 shares, bringing its total to 12,833,440 shares valued at over $1 billion.
• Charles Schwab reported a quarterly EPS of $1.14, surpassing analysts' expectations, with a revenue increase of 24.8% compared to the previous year.
• The company declared a quarterly dividend of $0.27, yielding 1.2%, and implemented a $20 billion stock repurchase plan to buy back up to 11.6% of its shares.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 10.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,833,440 shares of the financial services provider's stock after purchasing an additional 1,179,756 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.71% of Charles Schwab worth $1,004,602,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SCHW. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the first quarter worth approximately $25,000. Westside Investment Management Inc. grew its holdings in 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 acquiring an additional 150 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab in the 1st quarter valued at approximately $31,000. Activest Wealth Management increased its position in shares of Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 399 shares during the last quarter. Finally, WFA Asset Management Corp acquired a new stake in shares of Charles Schwab in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Performance

NYSE:SCHW traded down $0.44 during trading hours on Friday, reaching $93.50. 7,701,819 shares of the company's stock were exchanged, compared to its average volume of 9,938,769. 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 firm has a market capitalization of $169.72 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 0.91 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $61.81 and a 1-year high of $99.59. The company has a 50-day moving average of $95.36 and a 200 day moving average of $86.66.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating 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 business had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The business's revenue was up 24.8% compared to the same quarter last year. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has approved a stock repurchase plan 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 plans are usually a sign that the company's board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

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

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the transaction, the insider owned 39,154 shares in the company, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold a total of 298,214 shares of company stock worth $29,022,580 in the last ninety days. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of analyst reports. 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. TD Securities increased their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. JMP Securities upped their price target on Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a report on Monday, July 21st. Finally, Citigroup upped their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $99.60.

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.