iA Global Asset Management Inc. Has $7.35 Million Stake in The Charles Schwab Corporation $SCHW

iA Global Asset Management Inc. boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 39.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,568 shares of the financial services provider’s stock after purchasing an additional 22,883 shares during the period. iA Global Asset Management Inc.’s holdings in Charles Schwab were worth $7,351,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 19,195 shares during the last quarter. Private Trust Co. NA boosted its position in Charles Schwab by 3.1% in the 1st quarter. Private Trust Co. NA now owns 5,536 shares of the financial services provider’s stock valued at $433,000 after buying an additional 168 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Charles Schwab by 7.7% in the 1st quarter. First Horizon Advisors Inc. now owns 3,298 shares of the financial services provider’s stock valued at $258,000 after buying an additional 237 shares during the last quarter. Mutual Advisors LLC boosted its position in Charles Schwab by 3.8% in the 1st quarter. Mutual Advisors LLC now owns 11,359 shares of the financial services provider’s stock valued at $908,000 after buying an additional 421 shares during the last quarter. Finally, Silver Oak Securities Incorporated bought a new position in Charles Schwab in the 1st quarter valued at $297,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The stock was 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 in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab 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 completion of the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 65,866 shares of company stock worth $6,370,897. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of recent research reports. TD Cowen increased their price objective on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Barclays increased their price objective on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. JMP Securities restated a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Charles Schwab Stock Performance

SCHW stock opened at $94.62 on Monday. The business’s 50-day moving average price is $94.29 and its two-hundred day moving average price is $91.35. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market cap of $171.75 billion, a PE ratio of 22.16, a P/E/G ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s payout ratio is currently 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.