The Charles Schwab Corporation $SCHW Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,277,467 shares of the financial services provider’s stock after purchasing an additional 225,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Charles Schwab were worth $299,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at approximately $25,000. RMG Wealth Management LLC acquired a new position in Charles Schwab during the second quarter worth $27,000. CBIZ Investment Advisory Services LLC grew its holdings in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the period. Stone House Investment Management LLC purchased a new position in Charles Schwab in the first quarter worth $31,000. Finally, Activest Wealth Management lifted its holdings in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW opened at $95.33 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 cap of $173.05 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company’s 50-day moving average is $94.03 and its two-hundred day moving average is $91.76. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. Research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.27 dividend. 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 25.29%.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,866 shares of company stock valued at $6,370,897 in the last 90 days. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup raised their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Barclays lifted their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. One investment 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 company’s stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $106.45.

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.