Sculptor Capital LP Invests $11.96 Million in The Charles Schwab Corporation $SCHW

Sculptor Capital LP bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 152,783 shares of the financial services provider’s stock, valued at approximately $11,960,000.

A number of other large investors have also added to or reduced their stakes in SCHW. Vanguard Group Inc. grew its position in Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP grew its position in Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after buying an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA grew its position in Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after buying an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Charles Schwab during the first quarter worth approximately $440,699,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. The trade was 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 sold 298,299 shares of company stock worth $29,005,931. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Down 1.2%

Shares of SCHW opened at $95.91 on Friday. The Charles Schwab Corporation has a 52 week low of $61.16 and a 52 week high of $99.59. The stock has a market capitalization of $174.10 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.96 and a beta of 0.96. 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 moving average of $94.58 and a 200-day moving average of $85.83.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued 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 yield of 1.1%. Charles Schwab’s payout ratio is presently 29.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial raised their target price on Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a report on Friday, August 15th. JMP Securities raised their target price on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Piper Sandler raised their target price on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and raised their target price for the company from $65.00 to $82.00 in a report on Monday, June 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average 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.