Plato Investment Management Ltd Takes $6.03 Million Position in The Charles Schwab Corporation $SCHW

Plato Investment Management Ltd acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 65,701 shares of the financial services provider’s stock, valued at approximately $6,027,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Charles Schwab in the 4th quarter valued at about $1,994,189,000. Bank of New York Mellon Corp boosted its holdings in Charles Schwab by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after buying an additional 3,009,884 shares in the last quarter. Primecap Management Co. CA grew its position in Charles Schwab by 9.7% during the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after buying an additional 2,066,884 shares during the period. Focus Partners Wealth grew its position in Charles Schwab by 716.5% during the fourth quarter. Focus Partners Wealth now owns 2,101,463 shares of the financial services provider’s stock worth $209,948,000 after buying an additional 1,844,095 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Charles Schwab in the first quarter valued at about $129,140,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 6,952 shares of the stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total transaction of $709,312.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nigel J. Murtagh sold 24,778 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $109.01, for a total value of $2,701,049.78. Following the sale, the insider owned 57,972 shares in the company, valued at $6,319,527.72. This trade represents a 29.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 395,786 shares of company stock valued at $41,346,459 in the last 90 days. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of research reports. UBS Group set a $135.00 price target on shares of Charles Schwab in a research report on Monday, August 3rd. Argus upped their price target on Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Piper Sandler set a $118.00 target price on Charles Schwab in a research report on Tuesday, July 21st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $145.00 target price on shares of Charles Schwab in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Charles Schwab Trading Down 0.1%

Shares of SCHW stock opened at $111.03 on Monday. The company has a market capitalization of $192.01 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.85 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $99.40 and a 200 day moving average price of $95.84. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $111.18.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.06. The company 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 for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. Research analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is presently 23.27%.

About Charles Schwab

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.