AMF Tjanstepension AB Sells 25,186 Shares of The Charles Schwab Corporation $SCHW

AMF Tjanstepension AB lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 14.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,914 shares of the financial services provider’s stock after selling 25,186 shares during the quarter. AMF Tjanstepension AB’s holdings in Charles Schwab were worth $13,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc increased its position in Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 110 shares in the last quarter. Traveka Wealth LLC grew its position in shares of Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 117 shares in the last quarter. Bank of Stockton grew its position in shares of Charles Schwab by 1.2% during the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after purchasing an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in shares of Charles Schwab by 1.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 129 shares in the last quarter. Finally, HM Payson & Co. grew its position in shares of Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 130 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction 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 that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the sale, 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 three months, insiders sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Price Performance

NYSE:SCHW opened at $94.13 on Friday. The firm has a market capitalization of $170.87 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.90 and a beta of 0.97. The Charles Schwab Corporation has a 1 year low of $64.07 and a 1 year high of $99.59. The business has a 50 day simple moving average of $95.37 and a 200-day simple moving average of $88.57. 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 posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the company earned $0.73 EPS. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has initiated a share buyback 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 repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Charles Schwab Announces Dividend

The business 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. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Analyst Ratings Changes

Several analysts recently issued reports on SCHW shares. Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and increased their target price for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Piper Sandler increased their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. JMP Securities raised their price target on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. BMO Capital Markets began coverage on Charles Schwab in a report on Friday. They set an “outperform” rating and a $110.00 price target for the company. Finally, Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.52.

Charles Schwab Company 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.