Alyeska Investment Group L.P. Buys New Holdings in The Charles Schwab Corporation $SCHW

Alyeska Investment Group L.P. bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 1st quarter, Holdings Channel.com reports. The firm bought 1,842,082 shares of the financial services provider’s stock, valued at approximately $144,198,000.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. Northern Trust Corp increased its holdings in shares of Charles Schwab by 10.8% during the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after purchasing an additional 1,700,384 shares during the period. Invesco Ltd. increased 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. Finally, Wellington Management Group LLP increased its holdings in shares of Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SCHW. Barclays raised their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. JMP Securities raised their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” 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. Bank of America raised their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a report on Monday, July 21st. Finally, Truist Financial raised their target price on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $99.60.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the transaction, the insider owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 295,009 shares of company stock valued at $28,717,464. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Up 0.1%

SCHW stock opened at $95.97 on Wednesday. The firm has a 50-day moving average price of $94.87 and a 200-day moving average price of $86.06. The Charles Schwab Corporation has a 12 month low of $61.16 and a 12 month high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $174.21 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion for 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 firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

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

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.