TD Asset Management Inc Purchases 2,228 Shares of The Charles Schwab Corporation $SCHW

TD Asset Management Inc increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 749,390 shares of the financial services provider’s stock after acquiring an additional 2,228 shares during the quarter. TD Asset Management Inc’s holdings in Charles Schwab were worth $68,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RMG Wealth Management LLC bought a new position in Charles Schwab in the second quarter valued at approximately $27,000. Westside Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC boosted its position in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Charles Schwab in the 1st quarter worth $31,000. Finally, Activest Wealth Management grew its stake in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 399 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

SCHW opened at $94.51 on Thursday. The company has a market capitalization of $171.55 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 0.89 and a beta of 0.97. The business’s 50-day moving average price is $94.79 and its two-hundred day moving average price is $89.37. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the company earned $0.73 earnings per share. Charles Schwab’s quarterly revenue was up 24.8% on a year-over-year basis. Equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date 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 (DPR) is 29.03%.

Charles Schwab declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SCHW. Morgan Stanley reduced their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. JMP Securities upped their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $101.85.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction on 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 completion of the transaction, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% 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 valued at $26,232,077 in the last three months. 6.30% of the stock is currently owned by insiders.

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.