The Charles Schwab Corporation $SCHW is Titan Global Capital Management USA LLC’s 9th Largest Position

Titan Global Capital Management USA LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 25.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,283 shares of the financial services provider’s stock after purchasing an additional 60,491 shares during the period. Charles Schwab makes up 4.3% of Titan Global Capital Management USA LLC’s holdings, making the stock its 9th biggest holding. Titan Global Capital Management USA LLC’s holdings in Charles Schwab were worth $27,124,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Summit Investment Advisors Inc. raised its position in shares of Charles Schwab by 11.5% during the 1st quarter. Summit Investment Advisors Inc. now owns 16,235 shares of the financial services provider’s stock valued at $1,271,000 after buying an additional 1,669 shares during the period. AE Wealth Management LLC increased its stake in Charles Schwab by 4.6% during the second quarter. AE Wealth Management LLC now owns 43,223 shares of the financial services provider’s stock worth $3,944,000 after acquiring an additional 1,894 shares during the last quarter. Summit Wealth & Retirement Planning Inc. increased its stake in Charles Schwab by 40.4% during the second quarter. Summit Wealth & Retirement Planning Inc. now owns 4,297 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 1,236 shares during the last quarter. Penserra Capital Management LLC raised its position in Charles Schwab by 2,210.3% in the second quarter. Penserra Capital Management LLC now owns 2,703 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 2,586 shares during the period. Finally, Kinsale Capital Group Inc. lifted its stake in shares of Charles Schwab by 9.1% in the 2nd quarter. Kinsale Capital Group Inc. now owns 131,021 shares of the financial services provider’s stock valued at $11,954,000 after purchasing an additional 10,905 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several research analyst reports. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Citigroup lifted their target price 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. Finally, Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One investment 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 issued a Sell rating to the stock. According to MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 65,866 shares of company stock worth $6,370,897. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $95.33 on Friday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a fifty day simple moving average of $94.03 and a two-hundred day simple moving average of $91.76. 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 company has a market cap of $173.05 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the business posted $0.71 earnings per share. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be 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 is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab announced that its Board of Directors has initiated a share buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.