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 $8.05 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.
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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Insiders at the company have transacted a total of 96 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 1,283,948 shares. Insider sales of the common stock occurred on 49 occasions, with total insider shares sold totaling 1,923,527 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 $3.64 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 sold -2.66 million shares to see its total holdings shrink to 44.5 million shares valued at over $3.06 billion and representing 2.51% of the shares outstanding. Vanguard 500 Index Fund bought 0.1 million shares to bring its total holdings to over 36.34 million shares at a value of $2.5 billion. Vanguard 500 Index Fund now owns shares totaling to 2.05% of the shares outstanding.
However, the script later moved the day high at 63.80, up 1.69%. The company’s stock has a 5-day price change of -2.27% and 23.03% over the past three months. SCHW shares are trading -7.30% year to date (YTD), with the 12-month market performance down to -21.63% lower. It has a 12-month low price of $45.00 and touched a high of $81.96 over the same period. SCHW has an average intraday trading volume of 10.30 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 -4.93%, 1.74%, and 11.07% respectively.
Institutional ownership of Charles Schwab Corp. (NYSE: SCHW) shares accounts for 83.59% of the company’s 1.80B shares outstanding. Mutual fund holders own 46.10%, while other institutional holders and individual stakeholders account for 7.34% and 37.87% respectively.
It has a market capitalization of $113.05B and a beta (3y monthly) value of 1.00. The stock’s trailing 12-month PE ratio is 25.13, while the earnings-per-share (ttm) stands at $2.54. The company has a PEG of 4.94 and the debt-to-equity ratio at 1.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.29% over the week and 2.24% over the month.
Analysts forecast that Charles Schwab Corp. (SCHW) will achieve an EPS of $0.76 for the current quarter, $0.82 for the next quarter and $4.47 for 2025. The lowest estimate earnings-per-share for the quarter is $0.67 while analysts give the company a high EPS estimate of $0.85. Comparatively, EPS for the current quarter was $0.93 a year ago. Earnings per share for the fiscal year are expected to increase by 11.06%, and 28.57% over the next financial year. EPS should grow at an annualized rate of 5.08% over the next five years, compared to 0.76% over the past 5-year period.
Looking at the support for the SCHW, a number of firms have released research notes about the stock. Keefe Bruyette stated their Mkt Perform rating for the stock in a research note on January 18, 2024, with the firm’s price target at $75-$70.
