National Pension Service Purchases 692,603 Shares of The Charles Schwab Corporation $SCHW

National Pension Service increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 22.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,840,019 shares of the financial services provider’s stock after buying an additional 692,603 shares during the quarter. National Pension Service owned about 0.21% of Charles Schwab worth $350,363,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new stake in Charles Schwab during the 2nd quarter valued at $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab in the second quarter valued at $27,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab during the first quarter valued at about $31,000. Finally, Activest Wealth Management increased its position 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 acquiring an additional 399 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.5%

SCHW stock opened at $96.05 on Wednesday. The stock has a market cap of $174.35 billion, a P/E ratio of 22.49, a P/E/G ratio of 0.85 and a beta of 1.02. 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’s fifty day simple moving average is $94.02 and its two-hundred day simple moving average is $92.19. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. Analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab announced that its board has approved a stock buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding 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 usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SCHW shares. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Barclays upped their price target on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Raymond James Financial restated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. 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. Company insiders own 6.30% of the company’s stock.

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.