Flputnam Investment Management Co. Acquires 5,356 Shares of The Charles Schwab Corporation $SCHW

Flputnam Investment Management Co. grew its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 332,774 shares of the financial services provider’s stock after purchasing an additional 5,356 shares during the quarter. Flputnam Investment Management Co.’s holdings in Charles Schwab were worth $26,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCHW. Brighton Jones LLC boosted its holdings in shares of Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 19,195 shares in the last quarter. AQR Capital Management LLC increased its holdings in Charles Schwab by 231.0% in the 4th quarter. AQR Capital Management LLC now owns 296,978 shares of the financial services provider’s stock worth $21,979,000 after acquiring an additional 207,263 shares during the last quarter. AlTi Global Inc. increased its holdings in Charles Schwab by 162.0% in the 4th quarter. AlTi Global Inc. now owns 52,617 shares of the financial services provider’s stock worth $3,915,000 after acquiring an additional 32,531 shares during the last quarter. AXA S.A. boosted its stake in Charles Schwab by 46.5% in the 4th quarter. AXA S.A. now owns 234,160 shares of the financial services provider’s stock worth $17,330,000 after purchasing an additional 74,350 shares during the period. Finally, Atalanta Sosnoff Capital LLC boosted its position in shares of Charles Schwab by 41.4% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 788,005 shares of the financial services provider’s stock valued at $58,320,000 after acquiring an additional 230,785 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the sale, the insider owned 41,188 shares of the company’s stock, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 298,299 shares of company stock valued at $29,005,931. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $95.91 on Friday. The stock has a market cap of $174.10 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.94 and a beta of 0.96. 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 business has a 50-day simple moving average of $94.58 and a two-hundred day simple moving average of $85.85. The Charles Schwab Corporation has a 52 week low of $61.16 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion during 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 business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has approved a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is presently 29.03%.

Analyst Ratings Changes

A number of brokerages have commented on SCHW. JMP Securities lifted their price target on Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Monday, July 21st. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Bank of America boosted their target price on Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a report on Monday, July 21st. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Finally, Citigroup upped their price target on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.