Anson Funds Management LP Invests $783,000 in The Charles Schwab Corporation $SCHW

Anson Funds Management LP acquired a new position in The Charles Schwab Corporation (NYSE:SCHW) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the financial services provider’s stock, valued at approximately $783,000.

Several other institutional investors have also added to or reduced their stakes in SCHW. Bain Capital Public Equity Management II LLC bought a new stake in shares of Charles Schwab in the first quarter valued at approximately $79,605,000. Independent Advisor Alliance raised its holdings in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after acquiring an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after acquiring an additional 68,858 shares during the period. World Investment Advisors lifted its position in shares of Charles Schwab by 7.6% during the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock worth $12,760,000 after acquiring an additional 11,505 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Charles Schwab by 17.2% in the first quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider’s stock worth $15,631,000 after acquiring an additional 29,255 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $92.23 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $167.43 billion, a PE ratio of 24.79, a PEG ratio of 0.92 and a beta of 0.96. The company’s fifty day moving average is $95.31 and its 200 day moving average is $86.56. The Charles Schwab Corporation has a 52 week low of $61.16 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the firm earned $0.73 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its board has initiated a stock buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding 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 usually a sign that the company’s board believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

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 dated Thursday, August 28th. The stock was 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 trade represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 298,214 shares of company stock worth $29,022,580 over the last ninety days. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Morgan Stanley increased their price target on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. JMP Securities boosted their target price on Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Monday, July 21st. Finally, William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.60.

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.