The Charles Schwab Corporation $SCHW Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 11.8% in the second quarter, Holdings Channel reports. The institutional investor owned 5,928 shares of the financial services provider’s stock after selling 793 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Charles Schwab were worth $541,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Charles Schwab by 1.9% during the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after purchasing an additional 2,786,829 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Charles Schwab by 12.3% during the 1st 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 period. Geode Capital Management LLC raised its stake in shares of Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after buying an additional 1,038,376 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Charles Schwab by 35.9% in the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock valued at $1,736,736,000 after buying an additional 5,032,728 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Charles Schwab by 2.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 18,176,812 shares of the financial services provider’s stock valued at $1,658,452,000 after buying an additional 426,953 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.4%

Shares of SCHW stock opened at $92.65 on Thursday. The stock has a market cap of $164.63 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.85 and a beta of 1.02. 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 Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The business has a fifty day simple moving average of $94.01 and a 200-day simple moving average of $92.64.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 26.6% on a year-over-year basis. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab announced that its board has approved a share repurchase 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 buy up to 11.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SCHW shares. Barclays upped their price objective on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Truist Financial boosted their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. One investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,938 shares of company stock worth $6,671,953 over the last ninety days. 6.30% of the stock is currently owned by 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.