Federation des caisses Desjardins du Quebec Has $49.65 Million Stock Position in The Charles Schwab Corporation $SCHW

Federation des caisses Desjardins du Quebec lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 83.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 633,880 shares of the financial services provider’s stock after purchasing an additional 287,642 shares during the quarter. Federation des caisses Desjardins du Quebec’s holdings in Charles Schwab were worth $49,652,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab during the 1st quarter worth $25,000. Westside Investment Management Inc. boosted its stake 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 buying an additional 150 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the first quarter valued at about $31,000. Activest Wealth Management boosted its stake in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares in the last quarter. Finally, WFA Asset Management Corp acquired a new stake in Charles Schwab in the first quarter valued at about $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of SCHW opened at $95.91 on Tuesday. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year high of $99.59. 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 company has a market capitalization of $174.10 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The business has a 50-day moving average of $94.73 and a 200-day moving average of $85.99.

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

Charles Schwab announced that its Board of Directors has approved a share buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Charles Schwab Announces Dividend

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

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 of the company’s stock, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 295,009 shares of company stock valued at $28,717,464 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial raised their price objective on Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Morgan Stanley lifted their price target on Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Finally, Piper Sandler lifted their price target on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $99.60.

Charles Schwab 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.