Lincoln Capital Corp Has $5.69 Million Holdings in The Charles Schwab Corporation $SCHW

by · The Cerbat Gem

Lincoln Capital Corp raised its holdings in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,343 shares of the financial services provider’s stock after purchasing an additional 414 shares during the quarter. Charles Schwab makes up about 2.2% of Lincoln Capital Corp’s investment portfolio, making the stock its 16th largest position. Lincoln Capital Corp’s holdings in Charles Schwab were worth $5,688,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Northern Trust Corp lifted its position in shares of Charles Schwab by 10.8% during the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after purchasing an additional 1,700,384 shares in the last quarter. Alliancebernstein L.P. raised its position in Charles Schwab by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after purchasing an additional 2,355,309 shares during the last quarter. Finally, Invesco Ltd. raised its position in Charles Schwab by 5.0% in the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock worth $1,220,107,000 after purchasing an additional 743,906 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SCHW. Piper Sandler upped their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. William Blair downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Finally, Citigroup raised their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Sixteen 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Get Our Latest Report on Charles Schwab

Charles Schwab Stock Down 1.2%

Shares of SCHW opened at $90.99 on Wednesday. The Charles Schwab Corporation has a 52 week low of $62.41 and a 52 week high of $99.59. The firm has a market cap of $165.17 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The firm’s 50-day simple moving average is $95.38 and its 200 day simple moving average is $86.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 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 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

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

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the sale, the insider owned 41,188 shares of the company’s stock, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction dated 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. Over the last ninety days, insiders have sold 267,213 shares of company stock worth $26,232,180. Corporate insiders own 6.30% of the company’s stock.

About Charles Schwab

(Free Report)

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.

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