Voya Investment Management LLC Has $38.03 Million Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Voya Investment Management LLC increased its holdings in The Charles Schwab Corporation by 7.3%, owning 485,838 shares worth approximately $38.03 million as of the last reporting period.
• Charles Schwab's board has authorized a $20 billion stock buyback plan, reflecting confidence that the stock is undervalued, allowing the company to reacquire up to 11.6% of its shares.
• The firm recently reported earnings of $1.14 per share for the quarter, surpassing estimates, with a year-over-year revenue increase of 24.8% to $5.85 billion.

Voya Investment Management LLC boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,838 shares of the financial services provider's stock after buying an additional 33,087 shares during the quarter. Voya Investment Management LLC's holdings in Charles Schwab were worth $38,031,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SCHW. Atwood & Palmer Inc. acquired a new position in Charles Schwab during the first quarter worth approximately $25,000. Westside Investment Management Inc. grew its position in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab in the first quarter valued at approximately $31,000. Finally, Activest Wealth Management grew its position in shares of Charles Schwab by 6,650.0% in the first 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. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $93.50 on Friday. The stock's fifty day moving average price is $95.41 and its two-hundred day moving average price is $86.81. The Charles Schwab Corporation has a one year low of $61.81 and a one year high of $99.59. 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 firm has a market cap of $169.72 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 0.93 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 for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company's revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

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 issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total value of $305,116.00. Following the sale, the insider owned 37,983 shares of the company's stock, valued at approximately $3,615,981.60. This trade represents a 7.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction 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. In the last 90 days, insiders have sold 298,214 shares of company stock worth $29,022,580. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on SCHW. Bank of America upped their target price on Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research report on Monday, July 21st. TD Securities upped their target price on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley upped their target price on Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. JMP Securities increased their price target on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. Sixteen 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. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $99.60.

Charles Schwab 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.

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