Meiji Yasuda Life Insurance Co Buys 5,522 Shares of The Charles Schwab Corporation $SCHW

Meiji Yasuda Life Insurance Co grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 27.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,599 shares of the financial services provider’s stock after purchasing an additional 5,522 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Charles Schwab were worth $2,004,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Charles Schwab by 12.3% during the 1st 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 last quarter. Northern Trust Corp lifted its position in shares of Charles Schwab by 10.8% during the 1st 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 last quarter. Alliancebernstein L.P. lifted its position in shares of Charles Schwab by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after purchasing an additional 2,355,309 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Charles Schwab by 5.0% during the 1st 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 last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 298,214 shares of company stock valued at $29,022,580. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SCHW shares. Citigroup boosted their price objective on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Bank of America upped their price target on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a report on Monday, July 21st. Piper Sandler upped their price target on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and upped their price target for the company from $65.00 to $82.00 in a report on Monday, June 9th. Finally, TD Securities upped their price target on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. 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 company. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.60.

Charles Schwab Trading Down 5.7%

Shares of SCHW opened at $92.09 on Monday. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year 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 50 day simple moving average of $95.20 and a 200-day simple moving average of $86.38. The stock has a market cap of $167.15 billion, a PE ratio of 24.75, a PEG ratio of 0.91 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its board has authorized a share buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

Charles Schwab Company 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.