Los Angeles Capital Management LLC Has $199.40 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Los Angeles Capital Management LLC decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 32.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,185,390 shares of the financial services provider’s stock after selling 1,054,507 shares during the period. Charles Schwab accounts for about 0.7% of Los Angeles Capital Management LLC’s portfolio, making the stock its 24th biggest position. Los Angeles Capital Management LLC’s holdings in Charles Schwab were worth $199,395,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SCHW. Vanguard Group Inc. lifted its position in shares of Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 12.3% during 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 acquiring an additional 8,954,248 shares during the last quarter. Northern Trust Corp lifted its holdings in Charles Schwab by 10.8% during the first 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 period. Alliancebernstein L.P. boosted its position in 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 worth $1,339,822,000 after purchasing an additional 2,355,309 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Charles Schwab by 5.0% in the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock valued at $1,220,107,000 after purchasing an additional 743,906 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction 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 transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,866 shares of company stock worth $6,370,897 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent analyst reports. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Finally, Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $95.33 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The stock has a market cap of $173.05 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The stock has a fifty day moving average of $94.03 and a 200-day moving average of $91.76.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter last year, the company earned $0.71 EPS. The firm’s revenue was up 26.6% compared to the same quarter last year. 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 authorized a share buyback program 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 programs are often an indication that the company’s board believes its stock is undervalued.

Charles Schwab Announces Dividend

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

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.