Shell Asset Management Co. Raises Position in The Charles Schwab Corporation $SCHW

Shell Asset Management Co. grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 60.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,855 shares of the financial services provider’s stock after buying an additional 10,457 shares during the period. Shell Asset Management Co.’s holdings in Charles Schwab were worth $2,541,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bain Capital Public Equity Management II LLC purchased a new position in shares of Charles Schwab during the first quarter valued at approximately $79,605,000. Independent Advisor Alliance raised its holdings in shares of Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after purchasing an additional 68,858 shares during the last quarter. PFG Investments LLC raised its holdings in shares of Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares during the last quarter. Finally, United Services Automobile Association raised its holdings in shares of Charles Schwab by 14.1% during the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock valued at $3,074,000 after purchasing an additional 4,869 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several research reports. Bank of America boosted 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. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,128 shares of company stock valued at $26,232,077. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $93.82 on Thursday. The firm has a fifty day moving average price of $95.11 and a 200-day moving average price of $88.89. 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 has a market cap of $170.30 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a 1 year low of $64.97 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 earnings per share. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is 29.03%.

Charles Schwab declared that its board has authorized a stock buyback plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase 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 stock is undervalued.

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.