Meiji Yasuda Asset Management Co Ltd. Grows Stock Position in The Charles Schwab Corporation $SCHW

Meiji Yasuda Asset Management Co Ltd. raised its position in The Charles Schwab Corporation (NYSE:SCHW) by 43.9% during the 1st quarter, Holdings Channel reports. The firm owned 114,761 shares of the financial services provider’s stock after acquiring an additional 35,002 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Charles Schwab were worth $8,983,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP boosted its position in Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the period. Primecap Management Co. CA increased its position in Charles Schwab by 229.3% in the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after buying an additional 9,749,728 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC bought a new position in Charles Schwab in the 1st quarter valued at $440,699,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 5.7%

Charles Schwab stock opened at $92.09 on Monday. The stock has a market cap of $167.15 billion, a P/E ratio of 24.75, a PEG ratio of 0.91 and a beta of 0.96. 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 $61.16 and a fifty-two week high of $99.59. The firm’s fifty day moving average price is $95.20 and its 200-day moving average price is $86.38.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the firm earned $0.73 earnings per share. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is 29.03%.

Charles Schwab announced that its board has authorized a share buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on SCHW. Morgan Stanley upped their price objective on Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Piper Sandler lifted their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $99.60.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s 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 can be found here. Insiders sold a total of 298,214 shares of company stock valued at $29,022,580 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Company 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.