V Square Quantitative Management LLC Purchases 2,659 Shares of The Charles Schwab Corporation $SCHW

Key Points

• V Square Quantitative Management LLC increased its holdings in The Charles Schwab Corporation by 9.1% in the second quarter, now owning 31,807 shares worth approximately $2.9 million.
• During the same period, other institutional investors like Bain Capital and Independent Advisor Alliance also made significant investments, highlighting strong institutional interest with 84.38% of the stock owned by institutions.
• Charles Schwab recently reported a quarterly earnings per share (EPS) of $1.14, exceeding analyst expectations, and announced a $20 billion share repurchase plan, indicating confidence in the company's valuation.

V Square Quantitative Management LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 9.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,807 shares of the financial services provider's stock after purchasing an additional 2,659 shares during the period. V Square Quantitative Management LLC's holdings in Charles Schwab were worth $2,902,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bain Capital Public Equity Management II LLC bought a new position in Charles Schwab during the 1st quarter valued at about $79,605,000. Independent Advisor Alliance lifted its holdings in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock valued at $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock valued at $92,493,000 after purchasing an additional 68,858 shares during the last quarter. United Services Automobile Association lifted its holdings in Charles Schwab by 14.1% during the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider's stock valued at $3,074,000 after purchasing an additional 4,869 shares during the last quarter. Finally, World Investment Advisors lifted its holdings in Charles Schwab by 7.6% during the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock valued at $12,760,000 after purchasing an additional 11,505 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Up 0.8%

Shares of NYSE:SCHW opened at $95.52 on Monday. The Charles Schwab Corporation has a one year low of $62.41 and a one year high of $99.59. The company has a 50 day moving average of $95.55 and a 200-day moving average of $88.14. 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 stock has a market cap of $173.39 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company 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%. Charles Schwab's revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 EPS. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Dividend Announcement

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

Insider Activity

In related news, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the transaction, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 transaction of $4,851,552.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,213 shares of company stock valued at $26,232,180. 6.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Morgan Stanley raised their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and raised their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Raymond James Financial restated an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Citigroup raised their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $100.00.

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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