Saudi Central Bank Increases Position in The Charles Schwab Corporation $SCHW

Saudi Central Bank increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 85.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 115,584 shares of the financial services provider’s stock after acquiring an additional 53,275 shares during the quarter. Saudi Central Bank’s holdings in Charles Schwab were worth $10,665,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SCHW. Dogwood Wealth Management LLC grew its position in shares of Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Compass Financial Management LLC acquired a new position in Charles Schwab in the second quarter valued at $27,000. Scarborough Advisors LLC purchased a new position in Charles Schwab during the first quarter worth about $29,000. Main Street Group LTD purchased a new position in Charles Schwab during the first quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Charles Schwab by 233.6% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 357 shares of the financial services provider’s stock worth $34,000 after buying an additional 250 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Charles Schwab stock opened at $109.43 on Friday. The company has a market cap of $189.24 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 0.95 and a beta of 0.76. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $114.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64. The stock’s 50-day moving average is $105.23 and its 200-day moving average is $96.78.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. Equities analysts anticipate that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 14th. Charles Schwab’s payout ratio is currently 23.27%.

Insider Activity at Charles Schwab

In other news, insider Jonathan Beatty sold 1,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $111.33, for a total value of $111,330.00. Following the completion of the sale, the insider owned 10,738 shares of the company’s stock, valued at $1,195,461.54. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paula Sneed sold 5,263 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $107.15, for a total transaction of $563,930.45. Following the completion of the transaction, the director directly owned 91,711 shares in the company, valued at approximately $9,826,833.65. This represents a 5.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 649,582 shares of company stock valued at $69,948,015 over the last quarter. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley lifted their price target on Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. UBS Group set a $135.00 price target on shares of Charles Schwab in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $121.17.

Charles Schwab Company Profile

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.