The Charles Schwab Corporation $SCHW Holdings Lifted by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 581,823 shares of the financial services provider’s stock after purchasing an additional 25,490 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Charles Schwab were worth $52,969,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP lifted its stake in Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after buying an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA lifted its stake in Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after buying an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Charles Schwab during the first quarter valued at about $440,699,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,866 shares of company stock valued at $6,370,897 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 0.1%

Shares of Charles Schwab stock opened at $93.77 on Thursday. The stock has a 50-day moving average price of $94.10 and a 200 day moving average price of $91.60. The company has a market cap of $170.21 billion, a P/E ratio of 21.96, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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 return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, 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 share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Citigroup upped their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, Barclays increased their price objective on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.45.

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.