The Charles Schwab Corporation $SCHW Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,043 shares of the financial services provider’s stock after selling 1,738 shares during the quarter. Candriam S.C.A.’s holdings in Charles Schwab were worth $10,679,000 at the end of the most recent reporting period.

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

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,938 shares of company stock worth $6,671,953 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SCHW shares. Bank of America raised their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Morgan Stanley raised their price target on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Charles Schwab Trading Down 1.0%

NYSE:SCHW opened at $94.37 on Friday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month 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’s 50 day simple moving average is $94.06 and its 200-day simple moving average is $92.35. The firm has a market cap of $167.70 billion, a P/E ratio of 22.10, a PEG ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has authorized a share buyback program 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 buy up to 11.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

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 issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

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.