Jupiter Asset Management Ltd. Invests $1.44 Million in The Charles Schwab Corporation $SCHW

Jupiter Asset Management Ltd. acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,825 shares of the financial services provider’s stock, valued at approximately $1,444,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bryn Mawr Trust Advisors LLC grew its stake in shares of Charles Schwab by 2.0% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after acquiring an additional 107 shares during the period. Pine Haven Investment Counsel Inc lifted its holdings in Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 110 shares during the last quarter. Principle Wealth Partners LLC boosted its position in Charles Schwab by 2.0% during the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 113 shares during the period. Traveka Wealth LLC increased its stake in shares of Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 117 shares in the last quarter. Finally, 1ST Source Bank raised its position in shares of Charles Schwab by 0.5% in the second quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock valued at $2,161,000 after purchasing an additional 117 shares during the period. 84.38% of the stock is owned by institutional investors.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 68,938 shares of company stock valued at $6,671,953. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $94.37 on Friday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. 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 company has a market cap of $167.70 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The stock has a 50-day moving average price of $94.06 and a 200-day moving average price of $92.35.

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, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the business earned $0.71 earnings per share. Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its Board of Directors has initiated a stock buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Analysts Set New Price Targets

SCHW has been the subject of a number of recent research reports. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. BMO Capital Markets started coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. Finally, Citigroup increased their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.