National Pension Service Buys 692,603 Shares of The Charles Schwab Corporation $SCHW

National Pension Service lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 22.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,840,019 shares of the financial services provider’s stock after purchasing an additional 692,603 shares during the quarter. National Pension Service’s holdings in Charles Schwab were worth $350,363,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SCHW. Bryn Mawr Trust Advisors LLC increased its position in shares of Charles Schwab by 2.0% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after buying an additional 107 shares during the period. Pine Haven Investment Counsel Inc grew its stake in Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after acquiring an additional 110 shares in the last quarter. Principle Wealth Partners LLC grew its stake in Charles Schwab by 2.0% during the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 113 shares in the last quarter. Traveka Wealth LLC increased its holdings in Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 117 shares during the period. Finally, 1ST Source Bank lifted its stake in Charles Schwab by 0.5% in the 2nd quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock worth $2,161,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 65,866 shares of company stock worth $6,370,897. 6.30% of the stock is currently owned by insiders.

Charles Schwab Trading Up 0.5%

Shares of SCHW stock opened at $96.05 on Wednesday. The business has a 50-day moving average price of $94.02 and a two-hundred day moving average price of $92.19. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. 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 firm has a market cap of $174.35 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates 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%.Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has approved a stock buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SCHW shares. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. JMP Securities reiterated a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Finally, Citigroup upped their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

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.