Quantitative Investment Management LLC Takes $1.31 Million Position in The Charles Schwab Corporation $SCHW

Quantitative Investment Management LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, Holdings Channel.com reports. The fund bought 14,257 shares of the financial services provider’s stock, valued at approximately $1,315,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Charles Schwab in the fourth quarter valued at $1,994,189,000. Flossbach Von Storch SE bought a new stake in Charles Schwab during the second quarter worth about $987,930,000. BlackRock Inc. bought a new stake in Charles Schwab during the 2nd quarter worth approximately $861,475,000. Bank of New York Mellon Corp increased its stake in shares of Charles Schwab by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after buying an additional 3,009,884 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in Charles Schwab by 9.7% in the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock valued at $2,325,512,000 after acquiring an additional 2,066,884 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Down 0.2%

Charles Schwab stock opened at $109.96 on Tuesday. The company has a 50 day moving average of $103.78 and a 200-day moving average of $96.39. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $114.53. The stock has a market capitalization of $190.16 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. On average, equities research analysts anticipate that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 14th. Charles Schwab’s payout ratio is 23.27%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SCHW. Compass Point started coverage on Charles Schwab in a research report on Monday, August 3rd. They set a “buy” rating and a $135.00 target price for the company. TD Cowen raised their target price on shares of Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, May 15th. UBS Group set a $135.00 price target on shares of Charles Schwab in a research report on Monday, August 3rd. Argus boosted their price target on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.17.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 32,947 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the completion of the transaction, the insider directly owned 57,972 shares in the company, valued at approximately $6,029,667.72. This trade represents a 36.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula A. Sneed sold 5,263 shares of Charles Schwab stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $107.15, for a total value of $563,930.45. Following the completion of the sale, the director directly owned 91,711 shares in the company, valued at approximately $9,826,833.65. This represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 649,582 shares of company stock valued at $69,948,015 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.