UniSuper Management Pty Ltd Buys 16,920 Shares of The Charles Schwab Corporation $SCHW

Key Points

• UniSuper Management Pty Ltd increased its stake in The Charles Schwab Corporation by 17.7%, purchasing 16,920 additional shares to own a total of 112,318 shares valued at $8,792,000.
• Charles Schwab recently announced a quarterly dividend of $0.27 per share and has approved a share repurchase plan that allows for up to $20 billion in buybacks.
• Analysts have a consensus rating of "Moderate Buy" for Charles Schwab stock, with a price target averaging $99.60.

UniSuper Management Pty Ltd raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 17.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 112,318 shares of the financial services provider's stock after purchasing an additional 16,920 shares during the period. UniSuper Management Pty Ltd's holdings in Charles Schwab were worth $8,792,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research analyst reports. Bank of America boosted their target price on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research report on Monday, July 21st. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an "overweight" rating in a research report on Friday, July 18th. Raymond James Financial restated an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. TD Securities increased their price objective on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, Piper Sandler increased their price objective on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.60.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider owned 11,923 shares of the company's stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 298,214 shares of company stock worth $29,022,580. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of SCHW opened at $92.09 on Monday. The Charles Schwab Corporation has a 12 month low of $61.16 and a 12 month high of $99.59. The stock has a fifty day moving average price of $95.20 and a 200-day moving average price of $86.38. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $167.15 billion, a PE ratio of 24.75, a P/E/G ratio of 0.91 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab announced 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 repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

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.

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