Profund Advisors LLC Sells 4,172 Shares of The Charles Schwab Corporation $SCHW

Profund Advisors LLC reduced its stake in The Charles Schwab Corporation (NYSE:SCHW) by 17.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 19,105 shares of the financial services provider’s stock after selling 4,172 shares during the quarter. Profund Advisors LLC’s holdings in Charles Schwab were worth $1,743,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the period. Wellington Management Group LLP increased its position in shares of Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after buying an additional 13,262,309 shares during the period. Primecap Management Co. CA increased its position in shares of Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after buying an additional 9,749,728 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Charles Schwab in the first quarter valued at approximately $440,699,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $95.53 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s 50 day simple moving average is $94.02 and its 200 day simple moving average is $92.08. The firm has a market cap of $173.41 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 0.85 and a beta of 1.02. 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 issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (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 firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue was up 26.6% on a year-over-year basis. As a group, analysts predict 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 $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab announced that its Board of Directors has approved a stock buyback 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 typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCHW. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Truist Financial raised their price target on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Raymond James Financial reissued an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Finally, Barclays upped their price objective on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Insider Activity

In other news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction 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 trade represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 65,866 shares of company stock valued at $6,370,897. 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.