Mutual of America Capital Management LLC Sells 2,306 Shares of The Charles Schwab Corporation $SCHW

Mutual of America Capital Management LLC cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,875 shares of the financial services provider’s stock after selling 2,306 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Charles Schwab were worth $17,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Charles Schwab by 15.4% in 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 purchasing an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Charles Schwab by 12.3% during the 1st 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 buying an additional 8,954,248 shares during the period. Northern Trust Corp grew its holdings in Charles Schwab by 10.8% in the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after acquiring an additional 1,700,384 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Charles Schwab by 16.0% in the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock valued at $1,339,822,000 after acquiring an additional 2,355,309 shares during the period. Finally, Invesco Ltd. increased its position in shares of Charles Schwab by 5.0% in the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock valued at $1,220,107,000 after acquiring an additional 743,906 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the topic of several recent analyst reports. Barclays raised their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday. TD Cowen raised their price target on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.70.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 over the last three months. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $94.17 on Friday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The firm has a market capitalization of $170.93 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $94.68 and a two-hundred day simple moving average of $89.66.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the prior year, the firm earned $0.71 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is currently 25.29%.

Charles Schwab declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.