Allianz SE Acquires 82,094 Shares of The Charles Schwab Corporation $SCHW

Allianz SE lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 934.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,875 shares of the financial services provider’s stock after acquiring an additional 82,094 shares during the quarter. Allianz SE’s holdings in Charles Schwab were worth $8,291,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SCHW. Vanguard Personalized Indexing Management LLC increased its position in Charles Schwab by 26.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after buying an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Charles Schwab during the 1st quarter worth approximately $79,605,000. Independent Advisor Alliance increased its holdings in shares of Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after buying an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after purchasing an additional 68,858 shares during the period. Finally, PFG Investments LLC grew its holdings in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,866 shares of company stock valued at $6,370,897 over the last 90 days. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $97.71 on Thursday. 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 stock has a market capitalization of $173.63 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The stock’s 50-day moving average price is $94.06 and its 200 day moving average price is $92.23. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its board has authorized a stock repurchase program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given 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 is presently 25.29%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. One 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 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 target price of $106.45.

Charles Schwab Company 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.