The Manufacturers Life Insurance Company Acquires 68,596 Shares of The Charles Schwab Co. (NYSE:SCHW)

The Manufacturers Life Insurance Company grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,136,345 shares of the financial services provider’s stock after buying an additional 68,596 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of Charles Schwab worth $157,427,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SCHW. Price T Rowe Associates Inc. MD grew its stake in shares of Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after buying an additional 17,369,091 shares during the period. Morningstar Investment Services LLC grew its stake in Charles Schwab by 98.0% in the fourth 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 during the period. Darsana Capital Partners LP increased its holdings in shares of Charles Schwab by 200.0% during the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after acquiring an additional 2,000,000 shares in the last quarter. Mondrian Investment Partners LTD lifted its holdings in shares of Charles Schwab by 28,736.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,485,637 shares of the financial services provider’s stock worth $107,471,000 after purchasing an additional 1,480,485 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Charles Schwab during the 1st quarter valued at $105,563,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SCHW shares. Wells Fargo & Company started coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their price objective on Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and cut their target price for the company from $80.00 to $64.00 in a research report on Monday, July 29th. Finally, Barclays lowered their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.31.

Charles Schwab Stock Performance

Shares of SCHW opened at $64.42 on Friday. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s fifty day moving average price is $64.10 and its two-hundred day moving average price is $69.81. The firm has a market cap of $114.57 billion, a PE ratio of 26.95, a PEG ratio of 1.21 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Transactions at Charles Schwab

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

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.