Penserra Capital Management LLC Grows Stock Holdings in The Charles Schwab Corporation $SCHW

Penserra Capital Management LLC grew its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2,210.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,703 shares of the financial services provider’s stock after purchasing an additional 2,586 shares during the period. Penserra Capital Management LLC’s holdings in Charles Schwab were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Bryn Mawr Trust Advisors LLC boosted its stake in Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after buying an additional 107 shares in the last quarter. Pine Haven Investment Counsel Inc boosted its stake in shares of Charles Schwab by 0.3% in the 2nd 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 in the last quarter. Principle Wealth Partners LLC grew its holdings in shares of Charles Schwab by 2.0% during the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 113 shares during the last quarter. Traveka Wealth LLC raised its position in Charles Schwab by 4.3% in the 2nd 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 during the period. Finally, Leavell Investment Management Inc. lifted its stake in Charles Schwab by 1.0% in the second quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 118 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SCHW shares. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Barclays increased their target price on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Raymond James Financial restated an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Finally, Bank of America lifted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $97.71 on Thursday. The business has a 50 day moving average of $94.06 and a 200 day moving average of $92.23. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a market cap of $173.63 billion, a PE ratio of 22.88, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS 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 business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its board has approved a stock repurchase program 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 buy up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the 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 transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 65,866 shares of company stock worth $6,370,897. Company insiders own 6.30% of the company’s stock.

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.