Strs Ohio Takes $75.72 Million Position in The Charles Schwab Corporation $SCHW

Strs Ohio purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the first quarter, Holdings Channel.com reports. The firm purchased 967,300 shares of the financial services provider’s stock, valued at approximately $75,720,000.

A number of other hedge funds have also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab during the first quarter valued at about $25,000. Westside Investment Management Inc. grew its stake in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the first quarter worth about $31,000. Activest Wealth Management lifted its holdings in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after buying an additional 399 shares during the period. Finally, WFA Asset Management Corp bought a new position in shares of Charles Schwab during the first quarter valued at approximately $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 1.5%

Shares of Charles Schwab stock opened at $92.23 on Thursday. The company’s fifty day simple moving average is $95.31 and its 200-day simple moving average is $86.56. The stock has a market capitalization of $167.43 billion, a PE ratio of 24.79, a P/E/G ratio of 0.92 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion for 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 was up 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 EPS. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its board has authorized a share repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the transaction, the insider owned 39,154 shares in the company, valued at $3,524,251.54. This trade represents a 20.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 298,214 shares of company stock worth $29,022,580. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SCHW. Piper Sandler raised their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Truist Financial raised their target price on shares of Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Citigroup raised their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Barclays raised their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, Raymond James Financial reissued an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.60.

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.