Jupiter Asset Management Ltd. Makes New $1.44 Million Investment in The Charles Schwab Corporation $SCHW

Jupiter Asset Management Ltd. acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,825 shares of the financial services provider’s stock, valued at approximately $1,444,000.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Dynasty Wealth Management LLC bought a new position in shares of Charles Schwab in the first quarter worth approximately $835,000. Graypoint LLC increased its stake in shares of Charles Schwab by 10.7% in the first quarter. Graypoint LLC now owns 10,270 shares of the financial services provider’s stock worth $804,000 after buying an additional 991 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in Charles Schwab by 64.9% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 18,361 shares of the financial services provider’s stock valued at $1,438,000 after buying an additional 7,227 shares during the last quarter. Finally, Forte Capital LLC ADV raised its holdings in Charles Schwab by 9.6% during the 1st quarter. Forte Capital LLC ADV now owns 2,966 shares of the financial services provider’s stock valued at $232,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their position. 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 Charles Schwab stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 68,938 shares of company stock worth $6,671,953. 6.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCHW. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. BMO Capital Markets started coverage on shares of Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. Citigroup raised their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Bank of America increased their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Price Performance

SCHW stock opened at $94.37 on Friday. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company has a market cap of $167.70 billion, a P/E ratio of 22.10, a PEG ratio of 0.85 and a beta of 1.02. The firm has a 50-day moving average of $94.06 and a 200 day moving average of $92.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating 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 business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the firm posted $0.71 EPS. The business’s revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has authorized a share buyback 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 buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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. Investors of record on Friday, November 14th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

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.