Y Intercept Hong Kong Ltd Purchases New Shares in The Charles Schwab Corporation $SCHW

Y Intercept Hong Kong Ltd purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 89,367 shares of the financial services provider’s stock, valued at approximately $8,154,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Transcend Capital Advisors LLC grew its stake in Charles Schwab by 142.9% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,813 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 4,008 shares during the period. Bessemer Group Inc. grew its stake in Charles Schwab by 6.3% in the 2nd quarter. Bessemer Group Inc. now owns 316,508 shares of the financial services provider’s stock valued at $28,878,000 after acquiring an additional 18,681 shares during the period. Banco Santander S.A. grew its stake in Charles Schwab by 265.5% in the 2nd quarter. Banco Santander S.A. now owns 160,091 shares of the financial services provider’s stock valued at $14,607,000 after acquiring an additional 116,288 shares during the period. Riverwater Partners LLC grew its stake in Charles Schwab by 0.7% in the 2nd quarter. Riverwater Partners LLC now owns 21,985 shares of the financial services provider’s stock valued at $2,006,000 after acquiring an additional 159 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Charles Schwab by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,189,664 shares of the financial services provider’s stock valued at $564,745,000 after acquiring an additional 408,649 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.2%

NYSE SCHW opened at $94.37 on Monday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $94.43 and its 200-day simple moving average is $90.60. The firm has a market cap of $171.30 billion, a PE ratio of 22.10, a P/E/G ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is currently 25.29%.

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

Analyst Ratings Changes

SCHW has been the topic of a number of research analyst reports. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Citigroup raised their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Morgan Stanley decreased their price objective on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, Barclays raised their price objective on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given 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 an average price target of $106.00.

Insider Buying and Selling at Charles Schwab

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 transaction of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,128 shares of company stock worth $26,232,077. Corporate insiders own 6.30% of the company’s stock.

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.