The Vanguard Group, Inc. recently announced the acquisition of new stake in Charles Schwab Corp. (NYSE:SCHW). The institutional investor has increased its shareholding in the Financial company by 0.16% to 116.95 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 6.60% valued currently at $7.17 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.35 million to 63.14 million shares. And T. Rowe Price Associates, Inc. has lifted its position by 43.98% or 15.22 million shares – to 49.84 million shares.
With over 10.08 million Charles Schwab Corp. (SCHW) shares trading Tuesday and a closing price of $69.10 on the day, the dollar volume was approximately $696.7 million. The shares have shown a positive half year performance of 19.72% and its price on 01/02/24 gained nearly 0.44%. Currently, there are 1.80B common shares owned by the public and among those 1.66B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for SCHW have a consensus price objective of $72.78. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $52.00. The average price target is 5.06% above its recent price level and a downside to the estimated low will see the stock lose -32.88% over that period. But an upside of 23.22% will see the stock hit the forecast high price target while median target price for the stock is $74.50.
Insiders at the company have transacted a total of 99 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 48 of these insider trades were purchases, accounting for 1,335,092 shares. Insider sales of the common stock occurred on 51 occasions, with total insider shares sold totaling 1,974,671 shares.
The top 3 mutual fund holders in Charles Schwab Corp. are Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Dodge & Cox Stock Fund owns 52.92 million shares of the company’s stock, all valued at over $3.25 billion. The company bought an additional 0.28 million shares recently to bring their total holdings to about 2.99% of the shares outstanding. Vanguard Total Stock Market ETF bought 57025.0 shares to see its total holdings expand to 47.16 million shares valued at over $2.89 billion and representing 2.66% of the shares outstanding. Vanguard 500 Index Fund bought 0.17 million shares to bring its total holdings to over 35.9 million shares at a value of $2.2 billion. Vanguard 500 Index Fund now owns shares totaling to 2.03% of the shares outstanding.
Shares of Charles Schwab Corp. (NYSE: SCHW) opened at $68.13, down -$0.67 from a prior closing price of $68.80. However, the script later moved the day high at 69.19, up 0.44%. The company’s stock has a 5-day price change of 0.76% and 29.04% over the past three months. SCHW shares are trading 0.44% year to date (YTD), with the 12-month market performance down to -16.40% lower. It has a 12-month low price of $45.00 and touched a high of $86.63 over the same period. SCHW has an average intraday trading volume of 10.55 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 3.63%, 16.64%, and 21.72% respectively.
Institutional ownership of Charles Schwab Corp. (NYSE: SCHW) shares accounts for 83.64% of the company’s 1.80B shares outstanding. Mutual fund holders own 46.62%, while other institutional holders and individual stakeholders account for 7.34% and 37.52% respectively.
It has a market capitalization of $122.48B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 23.00, while the earnings-per-share (ttm) stands at $3.00. The company has a PEG of 4.20 and the debt-to-equity ratio at 1.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.49% over the week and 2.30% over the month.
Analysts forecast that Charles Schwab Corp. (SCHW) will achieve an EPS of $0.68 for the current quarter, $0.79 for the next quarter and $3.72 for 2024. The lowest estimate earnings-per-share for the quarter is $0.59 while analysts give the company a high EPS estimate of $0.75. Comparatively, EPS for the current quarter was $1.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -19.48%, and 18.58% over the next financial year. EPS should shrink at an annualized rate of 5.48% over the next five years, compared to 16.81% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Charles Schwab Corp. (SCHW) as a “Strong Buy” at a consensus score of 1.71. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 3 of the 21 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the SCHW, a number of firms have released research notes about the stock. Redburn Atlantic stated their Sell rating for the stock in a research note on December 01, 2023, with the firm’s price target at $52.
