Fagan Associates Inc. Grows Stock Position in The Charles Schwab Corporation $SCHW

Fagan Associates Inc. raised its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,838 shares of the financial services provider’s stock after acquiring an additional 2,415 shares during the quarter. Fagan Associates Inc.’s holdings in Charles Schwab were worth $6,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SCHW. Vanguard Group Inc. increased its holdings in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares during the period. Wellington Management Group LLP lifted its stake in 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 worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Charles Schwab by 229.3% during the 1st 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 buying an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Charles Schwab by 12.3% in 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 buying an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Charles Schwab during the 1st quarter valued at $440,699,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The SEC filing for this sale provides additional information. Insiders have sold 65,866 shares of company stock valued at $6,370,897 over the last ninety days. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SCHW shares. Morgan Stanley raised their price objective on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. JMP Securities reissued a “market outperform” rating and set a $110.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Citigroup upped their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Price Performance

SCHW stock opened at $95.53 on Tuesday. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. 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 firm has a market capitalization of $173.41 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 0.85 and a beta of 1.02. The firm has a 50 day moving average price of $94.02 and a 200-day moving average price of $92.08.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the company earned $0.71 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its Board of Directors has authorized a stock buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab 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.