Glaxis Capital Management LLC Acquires New Holdings in The Charles Schwab Corporation $SCHW

Glaxis Capital Management LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the financial services provider’s stock, valued at approximately $1,369,000. Charles Schwab accounts for 1.8% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors also recently modified their holdings of SCHW. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 15.4% during the 1st 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 period. Price T Rowe Associates Inc. MD lifted its position in Charles Schwab by 12.3% during the 1st 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 acquiring an additional 8,954,248 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Charles Schwab by 2.9% during the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after acquiring an additional 1,038,376 shares during the period. Northern Trust Corp grew its position in shares of Charles Schwab by 10.8% in the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after purchasing an additional 1,700,384 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Charles Schwab by 16.0% in the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after purchasing an additional 2,355,309 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,938 shares of company stock worth $6,671,953 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SCHW shares. BMO Capital Markets started coverage on Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Truist Financial increased their price objective on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Bank of America raised their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Down 1.0%

Shares of SCHW stock opened at $94.37 on Friday. The stock has a market cap of $167.70 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. 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 stock has a fifty day moving average price of $94.06 and a 200 day moving average price of $92.35. The Charles Schwab Corporation has a one year low of $65.88 and a one 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, beating analysts’ consensus estimates 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 $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue was up 26.6% on a year-over-year basis. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced that its board has authorized a share buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is 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.