TD Asset Management Inc Has $68.37 Million Position in The Charles Schwab Corporation $SCHW

TD Asset Management Inc grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 0.3% in the second quarter, HoldingsChannel.com reports. The fund owned 749,390 shares of the financial services provider’s stock after buying an additional 2,228 shares during the period. TD Asset Management Inc’s holdings in Charles Schwab were worth $68,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of SCHW. Pine Haven Investment Counsel Inc lifted its holdings 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 valued at $3,813,000 after buying an additional 110 shares during the period. Traveka Wealth LLC grew its holdings in Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 117 shares during the period. Bank of Stockton raised its position in shares of Charles Schwab by 1.2% in the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after acquiring an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of 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 worth $625,000 after acquiring an additional 129 shares in the last quarter. Finally, HM Payson & Co. lifted its stake in shares of 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 during the period. 84.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction 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 sale, the chairman owned 590,734 shares in the company, valued at approximately $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. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last three months. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SCHW shares. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Truist Financial set a $112.00 price target on Charles Schwab in a report on Thursday, October 2nd. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday. Barclays reiterated an “overweight” rating and set a $114.00 price objective on shares of Charles Schwab in a report on Wednesday, October 8th. Finally, Bank of America raised their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $101.85.

Charles Schwab Trading Up 1.2%

Shares of SCHW opened at $94.51 on Thursday. The business has a 50-day moving average of $94.79 and a 200 day moving average of $89.37. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The firm has a market cap of $171.55 billion, a P/E ratio of 25.41, a price-to-earnings-growth 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.

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 the consensus estimate 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 net margin of 33.68% and a return on equity of 19.30%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, research 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 authorized a stock buyback plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

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.