Rathbones Group PLC Buys 87,153 Shares of The Charles Schwab Corporation $SCHW

Rathbones Group PLC raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 281.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,068 shares of the financial services provider’s stock after purchasing an additional 87,153 shares during the quarter. Rathbones Group PLC’s holdings in Charles Schwab were worth $10,773,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after purchasing an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Charles Schwab in the 1st quarter worth about $440,699,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Citigroup raised their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders sold 65,866 shares of company stock valued at $6,370,897 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Up 1.2%

Charles Schwab stock opened at $95.33 on Monday. The firm has a 50 day simple moving average of $94.03 and a 200 day simple moving average of $91.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The firm has a market capitalization of $173.05 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (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 firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Charles Schwab declared that its board has approved a share repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.