The Manufacturers Life Insurance Company lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,790,965 shares of the financial services provider’s stock after selling 185,031 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Charles Schwab were worth $168,315,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Dogwood Wealth Management LLC raised its stake in Charles Schwab by 99.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 123 shares in the last quarter. Piscataqua Savings Bank acquired a new position in Charles Schwab in the fourth quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in Charles Schwab in the first quarter valued at $29,000. Optima Capital LLC purchased a new position in shares of Charles Schwab during the fourth quarter worth about $30,000. Finally, McIlrath & Eck LLC grew its holdings in shares of Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.
Insider Buying and Selling at Charles Schwab
In other news, General Counsel Peter J. Morgan III sold 6,952 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total transaction of $709,312.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total value of $208,420.00. Following the sale, the insider directly owned 11,738 shares of the company’s stock, valued at approximately $1,223,216.98. This represents a 14.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 17,005 shares of company stock worth $1,733,892. 6.30% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Report on SCHW
Charles Schwab Price Performance
Shares of NYSE:SCHW opened at $106.17 on Wednesday. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $107.50. The stock has a market capitalization of $184.65 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 0.84 and a beta of 0.77. The company has a 50-day simple moving average of $94.46 and a 200-day simple moving average of $95.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62.
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. On average, analysts predict that The Charles Schwab Corporation will post 6.45 EPS for the current year.
Charles Schwab Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 23.27%.
Trending Headlines about Charles Schwab
Here are the key news stories impacting Charles Schwab this week:
- Positive Sentiment: Planned $20 billion share repurchase: Charles Schwab reportedly plans to buy back $20 billion of its stock, a substantial capital-allocation commitment that could reduce shares outstanding, support earnings per share and signal management’s confidence in the company’s valuation and cash-generation outlook. Charles Schwab to buy back $20 billion of stock
- Positive Sentiment: Analysts continue to favor SCHW as a growth stock: Charles Schwab was included among analysts’ preferred growth names, reflecting confidence in demand trends and longer-term catalysts. The view is consistent with the company’s latest quarterly performance, which included earnings and revenue above consensus and 20.9% year-over-year revenue growth. Best Growth Stocks to Buy This Week
- Positive Sentiment: Retail investor sentiment is improving: Schwab executive James Kostulias said bullishness among retail traders is rising. Greater investor participation and trading activity could support Schwab’s brokerage-related revenue and asset-gathering trends. Charles Schwab executive discusses rising retail bullishness
- Positive Sentiment: Potential cryptocurrency-regulation tailwind: Schwab reportedly backed the CLARITY Act ahead of an August deadline. Clearer digital-asset rules could help established financial firms expand crypto-related products and services, although the legislation remains subject to the legislative process. Charles Schwab backs the CLARITY Act
- Neutral Sentiment: Commentary highlighting “three big reasons” to favor SCHW and a report on billionaire investor Andreas Halvorsen’s holdings add to positive market attention, but these opinions are not new company fundamentals or formal analyst actions. Three big reasons to favor Charles Schwab Andreas Halvorsen’s top picks
- Negative Sentiment: Several insiders sold shares, including General Counsel Peter J. Morgan III and executives Jonathan S. Beatty and Nigel J. Murtagh. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, but they may still create limited investor caution.
Charles Schwab Company Profile
Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.
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