Oppenheimer Asset Management Inc. Purchases 13,366 Shares of The Charles Schwab Corporation $SCHW

Oppenheimer Asset Management Inc. increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,231 shares of the financial services provider’s stock after acquiring an additional 13,366 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Charles Schwab were worth $13,160,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its stake in Charles Schwab by 26.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after acquiring an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Charles Schwab in the first quarter valued at approximately $79,605,000. Independent Advisor Alliance lifted its stake in Charles Schwab by 13.8% in the first 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake 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 buying an additional 68,858 shares in the last quarter. Finally, PFG Investments LLC lifted its stake 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 buying an additional 550 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock valued at $26,232,077 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SCHW shares. Barclays lifted their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. BMO Capital Markets started coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target on the stock. Truist Financial lifted their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Finally, Bank of America lifted their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Charles Schwab Price Performance

NYSE SCHW opened at $94.37 on Monday. The company has a market capitalization of $171.30 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The firm’s 50 day moving average is $94.43 and its 200-day moving average is $90.60. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has approved a stock buyback plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

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 issued a dividend of $0.27 per share. 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%.

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.