Public Sector Pension Investment Board Reduces Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Public Sector Pension Investment Board reduced its position in The Charles Schwab Corporation (NYSE:SCHW) by 12.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 455,604 shares of the financial services provider’s stock after selling 65,321 shares during the period. Public Sector Pension Investment Board’s holdings in Charles Schwab were worth $35,665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab in the 1st quarter valued at $25,000. Westside Investment Management Inc. increased its stake in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares during the period. WFA Asset Management Corp purchased a new stake in Charles Schwab during the 1st quarter worth $33,000. Cornerstone Planning Group LLC increased its position in shares of Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 220 shares during the last quarter. Finally, Beacon Capital Management LLC increased its position in shares of Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 169 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,850 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider owned 15,219 shares in the company, valued at approximately $1,332,727.83. This trade represents a 15.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman owned 590,734 shares of the company’s stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 308,016 shares of company stock worth $29,341,433 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW opened at $97.05 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year high of $99.59. The company has a fifty day simple moving average of $92.15 and a 200 day simple moving average of $84.40. The company has a market cap of $176.34 billion, a P/E ratio of 26.09, a P/E/G ratio of 0.93 and a beta of 0.96.

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, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has approved a stock repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Wall Street Analyst Weigh In

SCHW has been the subject of several research analyst reports. JMP Securities boosted their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Monday, July 21st. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and boosted their target price for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. TD Securities increased their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.35.

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.