Securian Asset Management Inc. Has $8.15 Million Stake in The Charles Schwab Corporation $SCHW

Securian Asset Management Inc. trimmed its stake in The Charles Schwab Corporation (NYSE:SCHW) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,296 shares of the financial services provider’s stock after selling 963 shares during the period. Securian Asset Management Inc.’s holdings in Charles Schwab were worth $8,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab in the second quarter valued at $25,000. Westside Investment Management Inc. increased its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the period. RMG Wealth Management LLC acquired a new stake in Charles Schwab in the second quarter valued at $27,000. CBIZ Investment Advisory Services LLC increased its holdings 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 valued at $30,000 after purchasing an additional 191 shares during the period. Finally, Stone House Investment Management LLC acquired a new stake in Charles Schwab in the first quarter valued at $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related 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 value of $2,359,239.36. Following the transaction, the insider owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SCHW shares. Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Friday. TD Cowen increased their price target on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Finally, JMP Securities reiterated a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Price Performance

SCHW stock opened at $94.93 on Tuesday. The stock has a market capitalization of $172.32 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The company’s 50-day moving average is $94.62 and its 200-day moving average is $89.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities research analysts expect 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 plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is 25.29%.

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.