Y Intercept Hong Kong Ltd Makes New Investment in The Charles Schwab Corporation $SCHW

Y Intercept Hong Kong Ltd purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 89,367 shares of the financial services provider’s stock, valued at approximately $8,154,000.

A number of other institutional investors have also recently made changes to their positions in the business. Transcend Capital Advisors LLC increased its stake in Charles Schwab by 142.9% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,813 shares of the financial services provider’s stock worth $622,000 after buying an additional 4,008 shares during the period. Bessemer Group Inc. grew its stake in shares of Charles Schwab by 6.3% in the second quarter. Bessemer Group Inc. now owns 316,508 shares of the financial services provider’s stock worth $28,878,000 after acquiring an additional 18,681 shares in the last quarter. Banco Santander S.A. increased its position in shares of Charles Schwab by 265.5% during the second quarter. Banco Santander S.A. now owns 160,091 shares of the financial services provider’s stock worth $14,607,000 after acquiring an additional 116,288 shares during the period. Riverwater Partners LLC raised its stake in shares of Charles Schwab by 0.7% in the second quarter. Riverwater Partners LLC now owns 21,985 shares of the financial services provider’s stock valued at $2,006,000 after acquiring an additional 159 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Charles Schwab by 7.1% in the second quarter. Envestnet Asset Management Inc. now owns 6,189,664 shares of the financial services provider’s stock valued at $564,745,000 after purchasing an additional 408,649 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock valued at $26,232,077 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

SCHW stock opened at $94.37 on Monday. The business has a 50 day moving average price of $94.43 and a 200 day moving average price of $90.60. The stock has a market cap of $171.30 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

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

Charles Schwab announced that its board has approved a stock buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Cowen restated a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Keefe, Bruyette & Woods boosted 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, October 17th. Truist Financial boosted their price objective on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. JMP Securities reissued a “market outperform” rating and set a $110.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Finally, TD Cowen boosted their price objective on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.