Martingale Asset Management L P Acquires 207,730 Shares of The Charles Schwab Corporation $SCHW

Martingale Asset Management L P grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 188.1% during the first quarter, HoldingsChannel.com reports. The fund owned 318,175 shares of the financial services provider’s stock after buying an additional 207,730 shares during the quarter. Martingale Asset Management L P’s holdings in Charles Schwab were worth $24,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new position in Charles Schwab during the first quarter valued at approximately $25,000. Westside Investment Management Inc. raised its stake 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 buying an additional 150 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Charles Schwab during the 1st quarter valued at $31,000. WFA Asset Management Corp bought a new position in shares of Charles Schwab during the 1st quarter valued at $33,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock worth $36,000 after buying an additional 220 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler upped their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Morgan Stanley upped their price target on shares of Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Raymond James Financial reiterated an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Truist Financial lifted their price target on shares of Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.60.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 10,129 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the transaction, the insider owned 39,154 shares of the company’s stock, valued at $3,524,251.54. This represents a 20.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the sale, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,340 shares of company stock valued at $24,250,303. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Trading Down 0.3%

Shares of SCHW stock opened at $95.4380 on Thursday. 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 stock has a fifty day simple moving average of $93.54 and a two-hundred day simple moving average of $85.16. The firm has a market capitalization of $173.24 billion, a PE ratio of 25.66, a PEG ratio of 0.94 and a beta of 0.96. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Charles Schwab announced that its board has initiated 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 buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

About Charles Schwab

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.