111 Capital Takes $2.98 Million Position in The Charles Schwab Corporation $SCHW

111 Capital bought a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 32,619 shares of the financial services provider’s stock, valued at approximately $2,976,000.

Several other hedge funds have also modified their holdings of the stock. Bain Capital Public Equity Management II LLC purchased a new stake in Charles Schwab in the 1st quarter worth about $79,605,000. Independent Advisor Alliance lifted its stake in Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after acquiring an additional 68,858 shares in the last quarter. United Services Automobile Association lifted its stake in Charles Schwab by 14.1% in the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock worth $3,074,000 after acquiring an additional 4,869 shares in the last quarter. Finally, World Investment Advisors lifted its stake in Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock worth $12,760,000 after acquiring an additional 11,505 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $94.13 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $170.87 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 0.90 and a beta of 0.97. The business’s 50-day simple moving average is $95.37 and its 200-day simple moving average is $88.57. The Charles Schwab Corporation has a 52 week low of $64.07 and a 52 week high of $99.59.

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

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. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 29.03%.

Charles Schwab declared that its Board of Directors has approved a stock buyback program 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 repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research note on Saturday, September 27th. Truist Financial set a $112.00 target price on Charles Schwab in a research report on Thursday. Piper Sandler upped their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Bank of America upped their target price on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 in the last 90 days. Company 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.