Machina Capital S.A.S. Acquires 30,311 Shares of The Charles Schwab Corporation $SCHW

Machina Capital S.A.S. lifted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 131.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,310 shares of the financial services provider’s stock after purchasing an additional 30,311 shares during the period. Charles Schwab comprises approximately 1.0% of Machina Capital S.A.S.’s holdings, making the stock its 13th biggest position. Machina Capital S.A.S.’s holdings in Charles Schwab were worth $4,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new stake in Charles Schwab in the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC purchased a new stake in Charles Schwab in the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its holdings in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Charles Schwab in the 1st quarter worth approximately $31,000. Finally, Activest Wealth Management increased its holdings in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,866 shares of company stock worth $6,370,897 over the last three months. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Truist Financial increased their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Barclays increased their price objective on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Bank of America increased their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Charles Schwab Trading Up 0.2%

SCHW stock opened at $94.62 on Monday. The firm has a fifty day moving average price of $94.29 and a 200 day moving average price of $91.35. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $171.75 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97.

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, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the firm posted $0.71 earnings per share. Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. Sell-side 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 of Directors has initiated a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Charles Schwab Dividend Announcement

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