The Charles Schwab Corporation $SCHW Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 26.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,538 shares of the financial services provider’s stock after acquiring an additional 40,275 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Charles Schwab were worth $17,387,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Pine Haven Investment Counsel Inc lifted its stake in Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after acquiring an additional 110 shares in the last quarter. Traveka Wealth LLC raised its position in Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 117 shares in the last quarter. Bank of Stockton raised its position in Charles Schwab by 1.2% in the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after purchasing an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 129 shares in the last quarter. Finally, HM Payson & Co. raised its position in Charles Schwab by 0.7% in the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday. Bank of America increased their price target on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Finally, Morgan Stanley dropped their price objective on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Charles Schwab Trading Down 2.1%

SCHW opened at $92.08 on Friday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a market cap of $167.15 billion, a P/E ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The business’s 50-day simple moving average is $94.97 and its 200-day simple moving average is $89.13.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for 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%.The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Charles Schwab declared that its board has initiated a share repurchase program 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 programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’s 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 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. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

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.