26,841 Shares in The Charles Schwab Corporation $SCHW Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,841 shares of the financial services provider’s stock, valued at approximately $2,523,000.

Several other institutional investors have also added to or reduced their stakes in SCHW. State Street Corp raised its holdings in shares of Charles Schwab by 1.0% during the 3rd quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after acquiring an additional 691,671 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Charles Schwab by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after acquiring an additional 98,242 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Charles Schwab by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock valued at $3,015,720,000 after purchasing an additional 78,020 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Charles Schwab by 9.7% in the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock valued at $2,325,512,000 after purchasing an additional 2,066,884 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Charles Schwab by 0.8% in the fourth quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider’s stock worth $2,179,888,000 after purchasing an additional 171,926 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $106.17 on Wednesday. The business’s 50 day moving average price is $94.46 and its 200-day moving average price is $95.37. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $107.50. The company has a market cap of $184.65 billion, a P/E ratio of 19.30, a P/E/G ratio of 0.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.Charles Schwab’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Sell-side analysts predict that The Charles Schwab Corporation will post 6.45 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 23.27%.

Key Headlines Impacting Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Planned $20 billion share repurchase: Charles Schwab reportedly plans to buy back $20 billion of its stock, a substantial capital-allocation commitment that could reduce shares outstanding, support earnings per share and signal management’s confidence in the company’s valuation and cash-generation outlook. Charles Schwab to buy back $20 billion of stock
• Positive Sentiment: Analysts continue to favor SCHW as a growth stock: Charles Schwab was included among analysts’ preferred growth names, reflecting confidence in demand trends and longer-term catalysts. The view is consistent with the company’s latest quarterly performance, which included earnings and revenue above consensus and 20.9% year-over-year revenue growth. Best Growth Stocks to Buy This Week
• Positive Sentiment: Retail investor sentiment is improving: Schwab executive James Kostulias said bullishness among retail traders is rising. Greater investor participation and trading activity could support Schwab’s brokerage-related revenue and asset-gathering trends. Charles Schwab executive discusses rising retail bullishness
• Positive Sentiment: Potential cryptocurrency-regulation tailwind: Schwab reportedly backed the CLARITY Act ahead of an August deadline. Clearer digital-asset rules could help established financial firms expand crypto-related products and services, although the legislation remains subject to the legislative process. Charles Schwab backs the CLARITY Act
• Neutral Sentiment: Commentary highlighting “three big reasons” to favor SCHW and a report on billionaire investor Andreas Halvorsen’s holdings add to positive market attention, but these opinions are not new company fundamentals or formal analyst actions. Three big reasons to favor Charles Schwab Andreas Halvorsen’s top picks
• Negative Sentiment: Several insiders sold shares, including General Counsel Peter J. Morgan III and executives Jonathan S. Beatty and Nigel J. Murtagh. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, but they may still create limited investor caution.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 4,053 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $104.14, for a total value of $422,079.42. Following the completion of the sale, the insider owned 57,972 shares in the company, valued at approximately $6,037,204.08. This trade represents a 6.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total transaction of $208,420.00. Following the transaction, the insider directly owned 11,738 shares of the company’s stock, valued at approximately $1,223,216.98. This represents a 14.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,005 shares of company stock worth $1,733,892. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Piper Sandler set a $118.00 price objective on shares of Charles Schwab in a research note on Tuesday, July 21st. TD Cowen boosted their target price on shares of Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Morgan Stanley upped their target price on shares of Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Truist Financial lowered their price target on shares of Charles Schwab from $122.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.94.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.