Acadian Asset Management LLC Purchases 15,287 Shares of The Charles Schwab Corporation $SCHW

Acadian Asset Management LLC raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 1,674.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,200 shares of the financial services provider’s stock after purchasing an additional 15,287 shares during the quarter. Acadian Asset Management LLC’s holdings in Charles Schwab were worth $1,265,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab in the first quarter valued at about $25,000. Westside Investment Management Inc. raised its stake in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab during the 1st quarter valued at $31,000. Activest Wealth Management raised its position in shares of Charles Schwab by 6,650.0% during the 1st 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 last quarter. Finally, WFA Asset Management Corp bought a new stake in Charles Schwab in the first quarter valued at about $33,000. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,213 shares of company stock valued at $26,232,180 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Up 1.0%

Charles Schwab stock opened at $91.95 on Thursday. The company has a market cap of $166.91 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.96. The company has a fifty day simple moving average of $95.37 and a 200 day simple moving average of $87.02. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 1-year low of $62.41 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Piper Sandler increased their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Barclays increased their price objective on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Finally, Raymond James Financial reiterated an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

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.