KLP Kapitalforvaltning AS Has $56.06 Million Stock Position in The Charles Schwab Corporation $SCHW

KLP Kapitalforvaltning AS increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 614,372 shares of the financial services provider’s stock after buying an additional 23,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in Charles Schwab were worth $56,055,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SCHW. Atwood & Palmer Inc. bought a new stake in Charles Schwab during the first quarter valued at about $25,000. Westside Investment Management Inc. increased its stake in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares during the period. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its stake in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares during the period. Finally, Stone House Investment Management LLC acquired a new stake in Charles Schwab in the 1st quarter valued at approximately $31,000. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction 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 sale, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,128 shares of company stock valued at $26,232,077. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SCHW. BMO Capital Markets began coverage on Charles Schwab in a report on Friday. They set an “outperform” rating and a $110.00 price target for the company. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. Truist Financial set a $112.00 target price on shares of Charles Schwab in a research note on Thursday. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $100.52.

Charles Schwab Stock Performance

Charles Schwab stock opened at $93.98 on Tuesday. The firm has a market capitalization of $170.59 billion, a P/E ratio of 25.26, a P/E/G ratio of 0.91 and a beta of 0.97. The stock has a fifty day moving average price of $95.29 and a two-hundred day moving average price of $88.82. The Charles Schwab Corporation has a 52-week low of $64.16 and a 52-week 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.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The company 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 firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 EPS. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

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.