Lansforsakringar Fondforvaltning AB publ Purchases 86,534 Shares of The Charles Schwab Corporation $SCHW

Lansforsakringar Fondforvaltning AB publ increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 16.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 621,171 shares of the financial services provider’s stock after acquiring an additional 86,534 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Charles Schwab were worth $48,625,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SCHW. Sheaff Brock Investment Advisors LLC raised its stake in Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 129 shares in the last quarter. HM Payson & Co. raised its stake in Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 130 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Charles Schwab by 2.1% in the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 132 shares in the last quarter. Journey Strategic Wealth LLC raised its stake in Charles Schwab by 3.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 135 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its stake in Charles Schwab by 2.2% in the first quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 136 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Bank of America raised their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research note on Monday, July 21st. JMP Securities lifted their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Monday, July 21st. Morgan Stanley lifted their price target on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Finally, Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Sixteen equities research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.60.

Insider Activity

In related news, insider Paul V. Woolway sold 10,129 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the transaction, the insider owned 39,154 shares in the company, valued at $3,524,251.54. The trade was a 20.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,850 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the transaction, the insider owned 15,219 shares in the company, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 241,693 shares of company stock worth $23,488,848. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Stock Down 0.3%

NYSE:SCHW opened at $96.92 on Thursday. The firm’s 50-day moving average price is $94.30 and its 200-day moving average price is $85.63. The company has a market capitalization of $175.94 billion, a PE ratio of 26.05, a P/E/G ratio of 0.96 and a beta of 0.96. 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 $61.16 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its earnings results 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 for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. On average, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is presently 29.03%.

Charles Schwab declared that its Board of Directors 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 stock through open market purchases. Stock 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.