Mitsubishi UFJ Trust & Banking Corp Has $68.86 Million Stake in The Charles Schwab Corporation $SCHW

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 0.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 754,686 shares of the financial services provider’s stock after selling 1,841 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Charles Schwab were worth $68,858,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. National Pension Service grew its holdings in shares of Charles Schwab by 22.0% in the 2nd quarter. National Pension Service now owns 3,840,019 shares of the financial services provider’s stock valued at $350,363,000 after acquiring an additional 692,603 shares in the last quarter. Verus Capital Partners LLC increased its position in shares of Charles Schwab by 14.3% during the 2nd quarter. Verus Capital Partners LLC now owns 2,973 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 373 shares during the last quarter. Fagan Associates Inc. raised its stake in shares of Charles Schwab by 3.3% during the 2nd quarter. Fagan Associates Inc. now owns 74,838 shares of the financial services provider’s stock worth $6,828,000 after purchasing an additional 2,415 shares in the last quarter. Nwam LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $243,000. Finally, Ibex Wealth Advisors bought a new position in shares of Charles Schwab in the second quarter valued at $4,451,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. JPMorgan Chase & Co. raised their price target on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. TD Cowen upped their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Citigroup increased their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, BMO Capital Markets began coverage on shares of Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. One 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Charles Schwab Price Performance

Charles Schwab stock opened at $97.71 on Thursday. The stock has a fifty day moving average of $94.06 and a 200-day moving average of $92.23. The stock has a market capitalization of $173.63 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. 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 Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping 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 $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

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 shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,866 shares of company stock worth $6,370,897 in the last 90 days. Insiders own 6.30% of the company’s stock.

Charles Schwab 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.