The Charles Schwab Corporation $SCHW Position Increased by Giverny Capital Inc.

by · The Cerbat Gem

Giverny Capital Inc. grew its position in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 65.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,567,495 shares of the financial services provider’s stock after buying an additional 618,429 shares during the quarter. Charles Schwab accounts for approximately 4.9% of Giverny Capital Inc.’s holdings, making the stock its 5th biggest holding. Giverny Capital Inc. owned 0.09% of Charles Schwab worth $143,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SCHW. Vanguard Group Inc. raised its position in Charles Schwab by 1.9% during the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after acquiring an additional 2,786,829 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after purchasing an additional 1,038,376 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Charles Schwab by 2.8% during the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock worth $2,740,479,000 after purchasing an additional 815,625 shares during the last quarter. Finally, Norges Bank purchased a new stake in Charles Schwab in the 2nd quarter valued at approximately $1,889,858,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 1.2%

Shares of SCHW stock opened at $92.94 on Friday. The firm’s 50-day simple moving average is $93.79 and its 200-day simple moving average is $92.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The firm has a market cap of $165.14 billion, a P/E ratio of 21.76, a PEG ratio of 0.85 and a beta of 1.02.

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

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares in the company, valued at approximately $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. In the last three months, insiders have sold 9,482 shares of company stock valued at $905,295. 6.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SCHW. Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Barclays upped their target price on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Get Our Latest Analysis on SCHW

Charles Schwab Company Profile

(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.

See Also