Swedbank AB Boosts Position in The Charles Schwab Corporation $SCHW

Swedbank AB raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 650,882 shares of the financial services provider’s stock after buying an additional 26,461 shares during the quarter. Swedbank AB’s holdings in Charles Schwab were worth $50,951,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew 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 buying an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. Northern Trust Corp grew its holdings in Charles Schwab by 10.8% during the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after buying an additional 1,700,384 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Charles Schwab by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock valued at $1,339,822,000 after buying an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Charles Schwab by 5.0% during the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock valued at $1,220,107,000 after buying an additional 743,906 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $93.50 on Friday. The business has a 50 day moving average of $95.41 and a 200 day moving average of $86.76. The company has a market capitalization of $169.72 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $61.81 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 released its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is presently 29.03%.

Charles Schwab declared that its Board of Directors has approved a share buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SCHW shares. Bank of America lifted their price target on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research report on Monday, July 21st. Piper Sandler lifted their price target on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Morgan Stanley lifted their price target on Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Raymond James Financial reiterated an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Finally, JMP Securities lifted their price target on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.60.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. The trade was a 29.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders have sold a total of 298,214 shares of company stock worth $29,022,580 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

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.