The Charles Schwab Corporation $SCHW Shares Bought by Saudi Central Bank

Saudi Central Bank grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 85.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 115,584 shares of the financial services provider’s stock after buying an additional 53,275 shares during the period. Saudi Central Bank’s holdings in Charles Schwab were worth $10,665,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dogwood Wealth Management LLC raised its stake in Charles Schwab by 99.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Compass Financial Management LLC acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $27,000. Scarborough Advisors LLC purchased a new stake in shares of Charles Schwab during the first quarter worth approximately $29,000. Main Street Group LTD purchased a new stake in shares of Charles Schwab during the first quarter worth approximately $33,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of Charles Schwab by 233.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 357 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In related news, insider Nigel Murtagh sold 32,947 shares of Charles Schwab stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the completion of the transaction, the insider directly owned 57,972 shares in the company, valued at $6,029,667.72. The trade was a 36.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter Bettinger sold 192,488 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $103.90, for a total value of $19,999,503.20. Following the sale, the chairman owned 529,346 shares in the company, valued at approximately $54,999,049.40. This trade represents a 26.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 649,582 shares of company stock worth $69,948,015. 6.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SCHW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Barclays increased their price target on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Compass Point initiated coverage on shares of Charles Schwab in a research report on Monday, August 3rd. They issued a “buy” rating and a $135.00 price objective for the company. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Finally, Wolfe Research reiterated an “outperform” rating and set a $127.00 target price on shares of Charles Schwab in a research report on Tuesday, July 21st. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.17.

Charles Schwab Price Performance

Charles Schwab stock opened at $109.43 on Friday. The firm has a market capitalization of $189.24 billion, a PE ratio of 19.90, a P/E/G ratio of 0.95 and a beta of 0.76. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The firm’s 50-day simple moving average is $105.23 and its 200 day simple moving average is $96.78. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The company had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts predict that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is 23.27%.

Charles Schwab Profile

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.