SSgA Funds Management, Inc. recently announced the acquisition of new stake in The Charles Schwab Corporation (NYSE:SCHW). The institutional investor has increased its shareholding in the Financial company by 0.87% to 47.24 million shares with purchase of 0.41 million shares. This fresh investment now brings its stake to 3.67% valued currently at $1.57 billion. In addition, Wellington Management Co. LLP raised its holdings by 12.55 million to 46.86 million shares. And T. Rowe Price Associates, Inc. (I.. has lifted its position by 9.61% or 3.78 million shares – to 43.13 million shares.
With over 8.33 million The Charles Schwab Corporation (SCHW) shares trading Monday and a closing price of $35.53 on the day, the dollar volume was approximately $295.81 million. The shares have shown a positive weekly performance of 1.17% and its price on 08/31/20 lost nearly -2.07%. Currently, there are 1.29B common shares owned by the public and among those 1.15B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for SCHW have a consensus price objective of $38.58. The analysts have set the share’s price value over the next 12 months at a high of $47.00 and a low of $35.00 should the stock experience a downside. Incidentally, analysts’ outlook for the The Charles Schwab Corporation stock is 2.50 for the next 12 months. The average price target is 8.62% above its last price level and an upside to the estimated low will see the stock lose -1.51% over that period. But an upside of 24.4% will see the stock hit the forecast high price target while mean target price for the stock is $37.00.
Insiders at the company have transacted a total of 95 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 940,055 shares. Insider sales of the common stock occurred on 49 occasions, with total insider shares sold totaling 5,716,808 shares.
The top 3 mutual fund holders in The Charles Schwab Corporation are Dodge & Cox Funds – Stock Fund, Vanguard Total Stock Market Index, and Vanguard Wellington Fund. Dodge & Cox Funds – Stock Fund owns 58.38 million shares of the company’s stock, all valued at over $1.94 billion. The company sold -3.46 million shares recently to bring their total holdings to about 4.54% of the shares outstanding. Vanguard Total Stock Market Index sold 62054.0 shares to see its total holdings shrink to 32.96 million shares valued at over $1.09 billion and representing 2.56% of the shares outstanding. Vanguard Wellington Fund bought 6.27 million shares to bring its total holdings to over 29.68 million shares at a value of $984.02 million. Vanguard Wellington Fund now owns shares totaling to 2.31% of the shares outstanding.
Shares of The Charles Schwab Corporation (NYSE: SCHW) opened at $36.13, down -$0.15 from a prior closing price of $36.28. However, the script later closed the day at $35.53, down -2.07%. The company’s stock has a 5-day price change of 1.17% and -4.33% over the past three months. SCHW shares are trading -25.29% year to date (YTD), with the 12-month market performance down to -7.16% lower. It has a 12-month low price of $28.00 and touched a high of $51.65 over the same period. Currently, 8.33 million shares have been traded, compared to an average intraday trading volume of 10.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.29%, 3.12%, and -9.96% respectively.
Institutional ownership of The Charles Schwab Corporation (NYSE: SCHW) shares accounts for 87.50% of the company’s 1.29B shares outstanding. Mutual fund holders own 40.32%, while other institutional holders and individual stakeholders account for 47.18% and 11.83% respectively.
It has a market capitalization of $45.53B and a beta (3y monthly) value of 1.18. The stock’s trailing 12-month PE ratio is 14.92, while the earnings-per-share (ttm) stands at $2.38. The company has a debt-to-equity ratio at 12.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.17% over the week and 2.58% over the month.
Analysts forecast that The Charles Schwab Corporation (SCHW) will achieve an EPS of $0.51 for the current quarter, $0.49 for the next quarter and $1.88 for 2021. The lowest estimate earnings-per-share for the quarter is $0.44 while analysts give the company a high EPS estimate of $0.62. Comparatively, EPS for the current quarter was $0.7 a year ago. Earnings per share for the fiscal year are expected to increase by 9.20%, and -8.15% over the next financial year. EPS should shrink at an annualized rate of -5.00% over the next five years, compared to 22.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate The Charles Schwab Corporation (SCHW) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 11 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SCHW, a number of firms have released research notes about the stock. Wolfe Research stated their Peer Perform rating for the stock in a research note on July 09, 2020, with the firm’s price target at. Wolfe Research coverage for the The Charles Schwab Corporation (SCHW) stock in a research note released on June 08, 2020 offered a Underperform rating with a price target of. BofA/Merrill was of a view on May 21, 2020 that the stock is Neutral, while Compass Point gave the stock Neutral rating on May 20, 2020, issuing a price target of $35. Citigroup on their part issued Neutral rating on April 15, 2020.