Forsta AP Fonden Boosts Holdings in The Charles Schwab Corporation $SCHW

Forsta AP Fonden raised its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 14.3% during the second quarter, HoldingsChannel reports. The fund owned 445,401 shares of the financial services provider’s stock after acquiring an additional 55,700 shares during the quarter. Forsta AP Fonden’s holdings in Charles Schwab were worth $40,638,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bryn Mawr Trust Advisors LLC grew its holdings in Charles Schwab by 2.0% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after purchasing an additional 107 shares during the last quarter. Pine Haven Investment Counsel Inc boosted its position in shares of Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after buying an additional 110 shares during the period. Principle Wealth Partners LLC boosted its position in shares of Charles Schwab by 2.0% during the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after buying an additional 113 shares during the period. Traveka Wealth LLC grew its stake in shares of Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after buying an additional 117 shares during the last quarter. Finally, 1ST Source Bank raised its holdings in shares of Charles Schwab by 0.5% in the second quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock worth $2,161,000 after buying an additional 117 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $96.05 on Wednesday. The company’s 50 day moving average is $94.02 and its 200 day moving average is $92.19. 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 firm has a market cap of $174.35 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion for 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 business’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its Board of Directors has authorized a stock 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 purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are generally 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. Shareholders of record on Friday, November 14th will be issued a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is currently 25.29%.

Analyst Ratings Changes

Several brokerages have commented on SCHW. BMO Capital Markets began coverage on Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective on the stock. Truist Financial upped their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Morgan Stanley upped their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

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.