Whittier Trust Co. of Nevada Inc. Grows Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Whittier Trust Co. of Nevada Inc. increased its holdings in The Charles Schwab Corporation by 3.5%, owning 117,866 shares worth approximately $10.75 million as of the latest SEC filing.
• Various hedge funds have also shown interest in Charles Schwab, with Vanguard Personalized Indexing Management boosting its stake by 26.8% during the second quarter.
• The Charles Schwab Corporation reported a quarterly revenue of $6.14 billion, surpassing estimates, and announced a $20 billion share repurchase plan to buy back up to 11.6% of its shares.

Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,866 shares of the financial services provider's stock after purchasing an additional 3,951 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Charles Schwab were worth $10,754,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider's stock worth $17,387,000 after acquiring an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of Charles Schwab in the 1st quarter worth about $79,605,000. Independent Advisor Alliance lifted its holdings in shares of Charles Schwab by 13.8% in the 1st 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 last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Charles Schwab by 6.2% in the 1st 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 last quarter. Finally, PFG Investments LLC lifted its holdings in shares of Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider's stock worth $543,000 after acquiring an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last quarter. Corporate insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SCHW. Raymond James Financial restated an "outperform" rating and issued a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They issued an "outperform" rating and a $110.00 price target on the stock. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $110.00 price target on shares of Charles Schwab in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.00.

Charles Schwab Stock Up 0.8%

Shares of Charles Schwab stock opened at $94.93 on Tuesday. 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 Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The firm's 50-day moving average is $94.62 and its two-hundred day moving average is $89.94. The stock has a market cap of $172.32 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 0.88 and a beta of 0.97.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.14 billion for the quarter, compared to analysts' expectations of $5.93 billion. During the same period in the prior year, the business earned $0.71 EPS. The firm's quarterly revenue was up 26.6% on a year-over-year basis. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Dividend Announcement

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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio is presently 25.29%.

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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