FUKOKU MUTUAL LIFE INSURANCE Co Cuts Stock Holdings in The Charles Schwab Corporation $SCHW

FUKOKU MUTUAL LIFE INSURANCE Co cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 11.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,928 shares of the financial services provider’s stock after selling 793 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Charles Schwab were worth $541,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab in the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab in the first quarter worth approximately $31,000. Finally, Activest Wealth Management grew its holdings in Charles Schwab by 6,650.0% during the 1st 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. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.4%

Charles Schwab stock opened at $92.65 on Thursday. The company has a market capitalization of $164.63 billion, a P/E ratio of 21.70, a PEG ratio of 0.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The stock has a 50-day simple moving average of $94.01 and a 200-day simple moving average of $92.64.

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

Charles Schwab Announces Dividend

The firm 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab declared that its Board of Directors has initiated 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 buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. boosted their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 68,938 shares of company stock worth $6,671,953 in the last 90 days. 6.30% of the stock is owned by insiders.

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.