The Charles Schwab Corporation $SCHW Shares Acquired by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 206,855 shares of the financial services provider’s stock after purchasing an additional 16,663 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Charles Schwab were worth $16,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab during the 1st quarter worth $25,000. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the 1st quarter valued at about $31,000. Activest Wealth Management grew its stake in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares during the last quarter. Finally, WFA Asset Management Corp acquired a new stake in Charles Schwab in the 1st quarter valued at about $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 298,214 shares of company stock worth $29,022,580. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

NYSE:SCHW opened at $92.09 on Friday. The firm has a 50 day simple moving average of $95.20 and a 200-day simple moving average of $86.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $167.15 billion, a PE ratio of 24.75, a P/E/G ratio of 0.96 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 earnings per share. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its board has approved a stock 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 buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is presently 29.03%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SCHW. Piper Sandler increased their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Morgan Stanley increased their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. TD Securities increased their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.60.

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.