Munich Reinsurance Co Stock Corp in Munich Acquires 14,246 Shares of The Charles Schwab Corporation $SCHW

Munich Reinsurance Co Stock Corp in Munich boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,656 shares of the financial services provider’s stock after acquiring an additional 14,246 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Charles Schwab were worth $14,731,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dogwood Wealth Management LLC lifted its holdings in Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after buying an additional 123 shares during the period. Compass Financial Management LLC bought a new stake in Charles Schwab during the 2nd quarter valued at approximately $27,000. Scarborough Advisors LLC purchased a new position in shares of Charles Schwab during the 1st quarter worth approximately $29,000. Main Street Group LTD purchased a new position in shares of Charles Schwab during the 1st quarter worth approximately $33,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of 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 acquiring an additional 250 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Walter Bettinger sold 192,488 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $103.90, for a total transaction of $19,999,503.20. Following the sale, the chairman owned 529,346 shares of the company’s stock, valued at $54,999,049.40. This trade represents a 26.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paula Sneed sold 5,263 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $107.15, for a total transaction of $563,930.45. Following the sale, the director directly owned 91,711 shares in the company, valued at $9,826,833.65. This trade represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 649,582 shares of company stock valued at $69,948,015 in the last three months. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Trading Down 0.9%

NYSE SCHW opened at $109.43 on Friday. The company has a 50 day moving average price of $105.23 and a 200 day moving average price of $96.78. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The firm has a market cap of $189.24 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 0.96 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion for the quarter, compared to analyst estimates 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 was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business 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. The ex-dividend date was Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 23.27%.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research reports. TD Cowen lifted their price target on Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Barclays lifted their price target on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Zacks Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Finally, Piper Sandler set a $118.00 target price on shares of Charles Schwab in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.