The Charles Schwab Corporation $SCHW Shares Acquired by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,838 shares of the financial services provider’s stock after acquiring an additional 218 shares during the period. Trust Co. of Toledo NA OH’s holdings in Charles Schwab were worth $806,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SCHW. Vanguard Group Inc. increased its position in shares of 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 valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP increased its position in shares of 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 valued at $1,212,461,000 after acquiring an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Charles Schwab by 229.3% in the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Charles Schwab in the first quarter valued at approximately $440,699,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares in the company, 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 the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Barclays restated an “overweight” rating and issued a $114.00 price objective on shares of Charles Schwab in a report on Wednesday. Piper Sandler lifted their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Morgan Stanley dropped their price objective on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Charles Schwab Stock Down 2.1%

Shares of Charles Schwab stock opened at $92.08 on Friday. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The company has a 50 day moving average of $94.97 and a 200 day moving average of $89.13. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $167.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during 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 quarter in the previous year, the firm earned $0.73 EPS. As a group, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its board has approved a stock repurchase 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 reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is currently 29.03%.

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.