Rathbones Group PLC Has $10.77 Million Stock Position in The Charles Schwab Corporation $SCHW

Rathbones Group PLC grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 281.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,068 shares of the financial services provider’s stock after acquiring an additional 87,153 shares during the period. Rathbones Group PLC’s holdings in Charles Schwab were worth $10,773,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SCHW. Vanguard Personalized Indexing Management LLC increased its position in Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after acquiring an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC bought a new stake in shares of Charles Schwab in the first quarter worth $79,605,000. Independent Advisor Alliance grew its stake in shares of Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after purchasing an additional 68,858 shares during the period. Finally, PFG Investments LLC raised its position in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $95.33 on Monday. 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 Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a fifty day moving average of $94.03 and a 200-day moving average of $91.96. The firm has a market capitalization of $173.05 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. Charles Schwab’s revenue was up 26.6% on a year-over-year basis. As a group, sell-side analysts anticipate 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 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 reacquire up to 11.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The SEC filing for this sale provides additional information. Insiders sold 65,866 shares of company stock valued at $6,370,897 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial upped their price target on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Citigroup increased their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft raised their price target 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. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Finally, BMO Capital Markets began coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

About Charles Schwab

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.