The Vanguard Group, 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 2.18% to 118.26 million shares with purchase of 2.52 million shares. This fresh investment now brings its stake to 6.51% valued currently at $9.42 billion. In addition, Dodge & Cox raised its holdings by 1.47 million to 80.51 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.11% or 0.72 million shares – to 65.57 million shares.
With over 5.96 million The Charles Schwab Corporation (SCHW) shares trading Tuesday and a closing price of $80.39 on the day, the dollar volume was approximately $478.95 million. The shares have shown a positive half year performance of 14.68% and its price on 11/29/22 gained nearly 0.70%. Currently, there are 1.89B common shares owned by the public and among those 1.69B shares have been available to trade.
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Insiders at the company have transacted a total of 114 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 803,554 shares. Insider sales of the common stock occurred on 71 occasions, with total insider shares sold totaling 6,868,132 shares.
The top 3 mutual fund holders in The Charles Schwab Corporation are Dodge & Cox Stock Fund, Vanguard Total Stock Market Index, and Vanguard Wellington Fund. Dodge & Cox Stock Fund owns 53.18 million shares of the company’s stock, all valued at over $4.24 billion. The company bought an additional 1.73 million shares recently to bring their total holdings to about 2.93% of the shares outstanding. Vanguard Total Stock Market Index bought 0.23 million shares to see its total holdings expand to 46.37 million shares valued at over $3.69 billion and representing 2.55% of the shares outstanding. Vanguard Wellington Fund bought 0.16 million shares to bring its total holdings to over 36.72 million shares at a value of $2.93 billion. Vanguard Wellington Fund now owns shares totaling to 2.02% of the shares outstanding.
Shares of The Charles Schwab Corporation (NYSE: SCHW) opened at $79.81, down -$0.02 from a prior closing price of $79.83. However, the script later moved the day high at 80.83, up 0.70%. The company’s stock has a 5-day price change of 0.49% and 10.88% over the past three months. SCHW shares are trading -4.41% year to date (YTD), with the 12-month market performance up to 0.36% higher. It has a 12-month low price of $59.35 and touched a high of $96.24 over the same period. SCHW has an average intraday trading volume of 7.61 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 1.44%, 6.88%, and 9.68% respectively.
Institutional ownership of The Charles Schwab Corporation (NYSE: SCHW) shares accounts for 88.50% of the company’s 1.89B shares outstanding. Mutual fund holders own 47.25%, while other institutional holders and individual stakeholders account for 7.72% and 41.46% respectively.
It has a market capitalization of $149.79B and a beta (3y monthly) value of 0.99. The stock’s trailing 12-month PE ratio is 24.40, while the earnings-per-share (ttm) stands at $3.29. The company has a PEG of 1.11 and the debt-to-equity ratio at 15.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.52% over the week and 2.25% over the month.
Analysts forecast that The Charles Schwab Corporation (SCHW) will achieve an EPS of $1.1 for the current quarter, $1.08 for the next quarter and $4.73 for 2023. The lowest estimate earnings-per-share for the quarter is $1.02 while analysts give the company a high EPS estimate of $1.17. Comparatively, EPS for the current quarter was $0.86 a year ago. Earnings per share for the fiscal year are expected to increase by 33.20%, and 23.75% over the next financial year. EPS should grow at an annualized rate of 21.90% over the next five years, compared to 16.60% over the past 5-year period.
Looking at the support for the SCHW, a number of firms have released research notes about the stock. Credit Suisse stated their Neutral rating for the stock in a research note on November 01, 2022, with the firm’s price target at $84. Credit Suisse coverage for the The Charles Schwab Corporation (SCHW) stock in a research note released on October 19, 2022 offered a Outperform rating with a price target of $80. Credit Suisse was of a view on October 12, 2022 that the stock is Neutral, while Citigroup gave the stock Neutral rating on October 12, 2022, issuing a price target of $83. Barclays on their part issued Equal Weight rating on August 31, 2022.
