The Charles Schwab Corporation $SCHW Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,277,467 shares of the financial services provider’s stock after acquiring an additional 225,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Charles Schwab worth $299,036,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Vanguard Group Inc. increased its position in shares of Charles Schwab by 15.4% in 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 during the period. Price T Rowe Associates Inc. MD grew its stake 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 valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Charles Schwab by 10.8% in the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after purchasing an additional 1,700,384 shares during the period. Alliancebernstein L.P. raised its stake in shares of Charles Schwab by 16.0% in 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 purchasing an additional 2,355,309 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of 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 purchasing an additional 743,906 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the topic of several research reports. Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Citigroup increased their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, BMO Capital Markets started coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective for the company. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Trading Up 1.2%

Shares of NYSE:SCHW opened at $95.33 on Friday. The business’s 50 day moving average price is $94.03 and its 200-day moving average price is $91.76. 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 price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

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 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 business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal 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 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 dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

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

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the sale, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab 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 have sold a total of 65,866 shares of company stock worth $6,370,897 in the last quarter. Company insiders own 6.30% of the company’s stock.

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.