Jacobs & Co. CA Sells 4,267 Shares of The Charles Schwab Corporation $SCHW

Jacobs & Co. CA cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 162,899 shares of the financial services provider’s stock after selling 4,267 shares during the period. Charles Schwab accounts for 1.5% of Jacobs & Co. CA’s holdings, making the stock its 18th biggest position. Jacobs & Co. CA’s holdings in Charles Schwab were worth $14,862,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after buying an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Charles Schwab by 595.7% in the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after buying an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Charles Schwab by 229.3% in the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after buying an additional 9,749,728 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Charles Schwab in the first quarter worth approximately $440,699,000. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was 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 directly owned 58,999 shares in the company, valued at $5,776,592.09. This trade represents a 29.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,214 shares of company stock valued at $29,022,580. 6.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research reports. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Piper Sandler raised their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Truist Financial lifted their price target on shares of Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a report on Friday, August 15th. Sixteen equities 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, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.60.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $93.50 on Friday. 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 $61.81 and a 1-year high of $99.59. The company has a market capitalization of $169.72 billion, a P/E ratio of 25.13, a P/E/G ratio of 0.93 and a beta of 0.96. The firm’s 50 day simple moving average is $95.41 and its two-hundred day simple moving average is $86.76.

Charles Schwab (NYSE:SCHW) last released its 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. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. Research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has authorized a stock repurchase program 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 reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is 29.03%.

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.