PointState Capital LP Has $239.58 Million Position in The Charles Schwab Corporation $SCHW

PointState Capital LP cut its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 4.5% during the 1st quarter, Holdings Channel reports. The firm owned 3,060,536 shares of the financial services provider’s stock after selling 145,523 shares during the period. Charles Schwab makes up approximately 3.5% of PointState Capital LP’s investment portfolio, making the stock its 5th biggest position. PointState Capital LP’s holdings in Charles Schwab were worth $239,579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCHW. Atwood & Palmer Inc. bought a new stake in Charles Schwab in the first quarter valued at $25,000. Westside Investment Management Inc. boosted its position in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Charles Schwab during the 1st quarter worth approximately $31,000. Activest Wealth Management raised its position in shares of Charles Schwab by 6,650.0% in 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. Finally, WFA Asset Management Corp purchased a new position in shares of Charles Schwab in the 1st quarter valued at approximately $33,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $92.09 on Friday. The Charles Schwab Corporation has a twelve month low of $61.16 and a twelve month high of $99.59. The company has a market capitalization of $167.15 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 0.96 and a beta of 0.96. The firm has a 50 day moving average of $95.20 and a 200 day moving average of $86.32. 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 Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate 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 was up 24.8% compared to the same quarter last year. During the same period last year, the business posted $0.73 EPS. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its board has approved a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total transaction of $305,116.00. Following the transaction, the insider directly owned 37,983 shares of the company’s stock, valued at $3,615,981.60. The trade was a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 298,214 shares of company stock worth $29,022,580 in the last three months. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SCHW shares. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Bank of America upped their price objective on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a report on Monday, July 21st. Morgan Stanley lifted their target price on shares of Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, TD Securities lifted their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.60.

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.