Nordea Investment Management AB Increases Stock Holdings in The Charles Schwab Corporation $SCHW

Nordea Investment Management AB lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 2.8% in the second quarter, Holdings Channel.com reports. The firm owned 2,734,960 shares of the financial services provider’s stock after buying an additional 74,308 shares during the period. Nordea Investment Management AB’s holdings in Charles Schwab were worth $248,539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbor Asset Planning Inc. purchased a new position in shares of Charles Schwab in the 2nd quarter worth approximately $69,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Charles Schwab in the 2nd quarter worth approximately $480,000. Tlwm boosted its holdings in shares of Charles Schwab by 0.7% in the 2nd quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock worth $1,614,000 after purchasing an additional 120 shares during the period. WealthPlan Investment Management LLC boosted its holdings in shares of Charles Schwab by 50.3% in the 2nd quarter. WealthPlan Investment Management LLC now owns 5,094 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 1,705 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Charles Schwab by 0.5% in the 2nd quarter. New York State Teachers Retirement System now owns 1,257,498 shares of the financial services provider’s stock worth $114,734,000 after purchasing an additional 6,422 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday. William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Raymond James Financial reissued an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft decreased their price target on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods raised their price target on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price of $101.85.

Charles Schwab Trading Down 1.0%

Shares of NYSE SCHW opened at $93.38 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $94.74 and a two-hundred day simple moving average of $89.47. The firm has a market cap of $169.51 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. Analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab declared that its board has approved a stock buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab 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. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 over the last quarter. Insiders own 6.30% of the company’s stock.

Charles Schwab Company 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.