The Charles Schwab Corporation $SCHW Shares Bought by Invictus Private Wealth LLC

Invictus Private Wealth LLC boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,529 shares of the financial services provider’s stock after acquiring an additional 500 shares during the period. Invictus Private Wealth LLC’s holdings in Charles Schwab were worth $961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SCHW. Vanguard Group Inc. grew its holdings in shares of Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 worth $1,212,461,000 after buying an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA grew its holdings 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 worth $1,096,083,000 after buying an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Charles Schwab by 12.3% during 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 purchased a new stake in shares of Charles Schwab during the first quarter worth about $440,699,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Truist Financial set a $112.00 price target on shares of Charles Schwab in a research note on Thursday, October 2nd. Citigroup increased their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. William Blair downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley cut their price target on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Charles Schwab Trading Down 2.1%

NYSE SCHW opened at $92.08 on Friday. The company’s fifty day simple moving average is $94.97 and its 200-day simple moving average is $89.06. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $167.15 billion, a P/E ratio of 24.75, a PEG ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the previous year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its board has initiated a stock repurchase plan 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 plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

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.