Titan Global Capital Management USA LLC Buys 60,491 Shares of The Charles Schwab Corporation $SCHW

Titan Global Capital Management USA LLC lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 25.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 297,283 shares of the financial services provider’s stock after buying an additional 60,491 shares during the quarter. Charles Schwab comprises about 4.3% of Titan Global Capital Management USA LLC’s holdings, making the stock its 9th biggest holding. Titan Global Capital Management USA LLC’s holdings in Charles Schwab were worth $27,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SCHW. Vanguard Group Inc. grew its holdings in shares of Charles Schwab by 15.4% during 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Charles Schwab by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. Northern Trust Corp grew its stake in Charles Schwab by 10.8% during the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after buying an additional 1,700,384 shares during the last quarter. Alliancebernstein L.P. increased its position in Charles Schwab by 16.0% during the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after buying an additional 2,355,309 shares during the period. Finally, Invesco Ltd. increased its position in Charles Schwab by 5.0% during the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock worth $1,220,107,000 after buying an additional 743,906 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 1.2%

Shares of Charles Schwab stock opened at $95.33 on Friday. The firm has a market cap of $173.05 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The company’s 50-day simple moving average is $94.03 and its 200-day simple moving average is $91.76. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released 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. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, equities research 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 announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given 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 presently 25.29%.

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

Analysts Set New Price Targets

SCHW has been the subject of several research analyst reports. Bank of America increased their price objective on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Barclays increased their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. BMO Capital Markets started coverage on shares of Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price for the company. Finally, Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Insiders Place Their Bets

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 65,866 shares of company stock worth $6,370,897. Corporate insiders own 6.30% of the company’s stock.

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.