Smith Group Asset Management LLC Increases Stock Position in The Charles Schwab Corporation $SCHW

Smith Group Asset Management LLC grew its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,975 shares of the financial services provider’s stock after buying an additional 24,971 shares during the period. Charles Schwab accounts for approximately 1.9% of Smith Group Asset Management LLC’s holdings, making the stock its 27th biggest position. Smith Group Asset Management LLC’s holdings in Charles Schwab were worth $36,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHW. State Street Corp increased its stake in shares of Charles Schwab by 1.0% in the 3rd quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after acquiring an additional 691,671 shares in the last quarter. Geode Capital Management LLC boosted its stake in Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock worth $3,747,646,000 after acquiring an additional 98,242 shares in the last quarter. Franklin Resources Inc. boosted its stake in Charles Schwab by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock worth $3,015,720,000 after acquiring an additional 78,020 shares in the last quarter. Primecap Management Co. CA grew its holdings in Charles Schwab by 9.7% in the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after purchasing an additional 2,066,884 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Charles Schwab by 0.8% in the fourth quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider’s stock worth $2,179,888,000 after purchasing an additional 171,926 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 4,053 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $104.14, for a total transaction of $422,079.42. Following the sale, the insider owned 57,972 shares in the company, valued at approximately $6,037,204.08. This trade represents a 6.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter J. Morgan III sold 6,952 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total transaction of $709,312.56. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 17,005 shares of company stock valued at $1,733,892. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Trading Up 1.9%

Shares of SCHW stock opened at $106.17 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $184.65 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 0.84 and a beta of 0.77. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50. The firm has a fifty day moving average price of $94.46 and a 200-day moving average price of $95.37.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The company had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the firm earned $1.14 EPS. Charles Schwab’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts predict that The Charles Schwab Corporation will post 6.45 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s payout ratio is 23.27%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SCHW shares. Morgan Stanley lifted their target price on shares of Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Monday. Barclays increased their target price on Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. UBS Group upped their price objective on Charles Schwab from $122.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, BMO Capital Markets downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price target on the stock. in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.94.

Key Stories Impacting Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Planned $20 billion share repurchase: Charles Schwab reportedly plans to buy back $20 billion of its stock, a substantial capital-allocation commitment that could reduce shares outstanding, support earnings per share and signal management’s confidence in the company’s valuation and cash-generation outlook. Charles Schwab to buy back $20 billion of stock
• Positive Sentiment: Analysts continue to favor SCHW as a growth stock: Charles Schwab was included among analysts’ preferred growth names, reflecting confidence in demand trends and longer-term catalysts. The view is consistent with the company’s latest quarterly performance, which included earnings and revenue above consensus and 20.9% year-over-year revenue growth. Best Growth Stocks to Buy This Week
• Positive Sentiment: Retail investor sentiment is improving: Schwab executive James Kostulias said bullishness among retail traders is rising. Greater investor participation and trading activity could support Schwab’s brokerage-related revenue and asset-gathering trends. Charles Schwab executive discusses rising retail bullishness
• Positive Sentiment: Potential cryptocurrency-regulation tailwind: Schwab reportedly backed the CLARITY Act ahead of an August deadline. Clearer digital-asset rules could help established financial firms expand crypto-related products and services, although the legislation remains subject to the legislative process. Charles Schwab backs the CLARITY Act
• Neutral Sentiment: Commentary highlighting “three big reasons” to favor SCHW and a report on billionaire investor Andreas Halvorsen’s holdings add to positive market attention, but these opinions are not new company fundamentals or formal analyst actions. Three big reasons to favor Charles Schwab Andreas Halvorsen’s top picks
• Negative Sentiment: Several insiders sold shares, including General Counsel Peter J. Morgan III and executives Jonathan S. Beatty and Nigel J. Murtagh. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, but they may still create limited investor caution.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.