KBC Group NV Sells 963,410 Shares of The Charles Schwab Corporation $SCHW

KBC Group NV lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 46.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,127,029 shares of the financial services provider’s stock after selling 963,410 shares during the period. KBC Group NV’s holdings in Charles Schwab were worth $102,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bryn Mawr Trust Advisors LLC raised its stake in Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after purchasing an additional 107 shares in the last quarter. Pine Haven Investment Counsel Inc increased its holdings in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 110 shares during the last quarter. Principle Wealth Partners LLC raised its position in shares of Charles Schwab by 2.0% during the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after buying an additional 113 shares in the last quarter. Traveka Wealth LLC lifted its holdings in shares of Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 117 shares during the last quarter. Finally, 1ST Source Bank grew its position in Charles Schwab by 0.5% in the second quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock worth $2,161,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other 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 transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,866 shares of company stock worth $6,370,897 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 0.5%

Shares of NYSE SCHW opened at $96.05 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The firm’s fifty day moving average is $94.02 and its 200 day moving average is $92.19. The company has a market cap of $174.35 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. On average, equities research analysts expect 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 repurchase plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is 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 $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Analyst Ratings Changes

A number of research firms have weighed in on SCHW. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Finally, Morgan Stanley increased their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One investment 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.45.

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.