BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $54.67 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in The Charles Schwab Co. (NYSE:SCHW) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 741,938 shares of the financial services provider’s stock after purchasing an additional 56,136 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Charles Schwab were worth $54,673,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SCHW. Morningstar Investment Services LLC lifted its stake in Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after acquiring an additional 2,322,156 shares in the last quarter. M&G Plc bought a new stake in shares of Charles Schwab in the first quarter worth $11,452,000. Daiwa Securities Group Inc. boosted its holdings in Charles Schwab by 10.4% during the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Wedmont Private Capital grew its position in Charles Schwab by 12.2% in the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake in Charles Schwab by 217.8% in the 4th quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock valued at $13,371,000 after buying an additional 133,186 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SCHW shares. Barclays decreased their price objective on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Bank of America decreased their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. TD Cowen reissued a “hold” rating and issued a $71.00 price objective (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.75.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $64.95 on Tuesday. The company has a market capitalization of $115.43 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The company has a 50-day simple moving average of $64.08 and a 200 day simple moving average of $69.93.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at $35,543,202.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by corporate insiders.

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.