The Charles Schwab Corporation $SCHW Holdings Lifted by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,182,081 shares of the financial services provider’s stock after buying an additional 2,786,829 shares during the period. Vanguard Group Inc. owned 8.32% of Charles Schwab worth $13,793,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Charles Schwab by 3.6% during the first quarter. Private Advisor Group LLC now owns 101,695 shares of the financial services provider’s stock valued at $7,961,000 after purchasing an additional 3,536 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Charles Schwab by 7.7% in the first quarter. Kestra Private Wealth Services LLC now owns 10,136 shares of the financial services provider’s stock worth $793,000 after purchasing an additional 721 shares during the period. IFP Advisors Inc lifted its holdings in shares of Charles Schwab by 2.2% in the first quarter. IFP Advisors Inc now owns 22,441 shares of the financial services provider’s stock valued at $1,757,000 after buying an additional 478 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Charles Schwab by 18.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 131,476 shares of the financial services provider’s stock valued at $10,292,000 after buying an additional 20,909 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

SCHW stock opened at $92.00 on Tuesday. The firm has a 50 day simple moving average of $94.03 and a 200 day simple moving average of $92.58. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The stock has a market cap of $163.47 billion, a P/E ratio of 21.54, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its board has initiated a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given 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 yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,938 shares of company stock worth $6,671,953 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. TD Cowen boosted their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.