TD Asset 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 0.05% to 226.86 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 12.49% valued currently at $17.68 billion. In addition, The Vanguard Group, Inc. raised its holdings by 1.35 million to 119.61 million shares. And Wellington Management Co. LLP has lifted its position by 5.88% or 4.43 million shares – to 79.85 million shares.
With over 23.06 million The Charles Schwab Corporation (SCHW) shares trading Tuesday and a closing price of $53.85 on the day, the dollar volume was approximately $1.24 billion. The shares have shown a negative half year performance of -24.04% and its price on 03/28/23 lost nearly -1.84%. Currently, there are 1.86B common shares owned by the public and among those 1.69B 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: 23 analysts who have offered their price forecasts for SCHW have a consensus price objective of $83.56. The analysts have set the share’s price value over the next 12 months at a high of $105.00 and a low of $58.00. The average price target is 35.5% above its recent price level and an upside to the estimated low will see the stock gain 7.16% over that period. But an upside of 48.71% will see the stock hit the forecast high price target while median target price for the stock is $86.00.
Insiders at the company have transacted a total of 103 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 766,435 shares. Insider sales of the common stock occurred on 70 occasions, with total insider shares sold totaling 13,139,004 shares.
The top 3 mutual fund holders in The Charles Schwab Corporation are Standard Life Money Market Pensio, Dodge & Cox Stock Fund, and Vanguard Total Stock Market Index. Standard Life Money Market Pensio owns 60.03 million shares of the company’s stock, all valued at over $4.68 billion. The company bought an additional 60.03 million shares recently to bring their total holdings to about 3.31% of the shares outstanding. Dodge & Cox Stock Fund sold -1.57 million shares to see its total holdings shrink to 51.61 million shares valued at over $4.02 billion and representing 2.84% of the shares outstanding. Vanguard Total Stock Market Index bought 0.19 million shares to bring its total holdings to over 47.49 million shares at a value of $3.7 billion. Vanguard Total Stock Market Index now owns shares totaling to 2.62% of the shares outstanding.
Shares of The Charles Schwab Corporation (NYSE: SCHW) opened at $54.34, down -$0.52 from a prior closing price of $54.86. However, the script later moved the day high at 54.54, down -1.84%. The company’s stock has a 5-day price change of -9.45% and -34.14% over the past three months. SCHW shares are trading -35.32% year to date (YTD), with the 12-month market performance down to -41.06% lower. It has a 12-month low price of $45.00 and touched a high of $93.16 over the same period. SCHW has an average intraday trading volume of 20.22 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 -15.66%, -26.34%, and -26.21% respectively.
Institutional ownership of The Charles Schwab Corporation (NYSE: SCHW) shares accounts for 88.50% of the company’s 1.86B shares outstanding. Mutual fund holders own 44.52%, while other institutional holders and individual stakeholders account for 7.35% and 43.74% respectively.
It has a market capitalization of $98.52B and a beta (3y monthly) value of 0.96. The stock’s trailing 12-month PE ratio is 15.36, while the earnings-per-share (ttm) stands at $3.50. The company has a PEG of 1.01 and the debt-to-equity ratio at 15.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.84% over the week and 6.54% over the month.
Analysts forecast that The Charles Schwab Corporation (SCHW) will achieve an EPS of $1 for the current quarter, $1.07 for the next quarter and $5.47 for 2024. The lowest estimate earnings-per-share for the quarter is $0.95 while analysts give the company a high EPS estimate of $1.09. Comparatively, EPS for the current quarter was $0.77 a year ago. Earnings per share for the fiscal year are expected to increase by 24.00%, and 25.24% over the next financial year. EPS should shrink at an annualized rate of 15.16% over the next five years, compared to 16.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate The Charles Schwab Corporation (SCHW) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 6 of the 23 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. Credit Suisse stated their Outperform rating for the stock in a research note on March 15, 2023, with the firm’s price target at $81.50-$67.50. Citigroup coverage for the The Charles Schwab Corporation (SCHW) stock in a research note released on March 13, 2023 offered a Buy rating with a price target of $75. BofA Securities was of a view on January 19, 2023 that the stock is Underperform, while Goldman gave the stock Buy rating on January 04, 2023, issuing a price target of $98. Credit Suisse on their part issued Neutral rating on November 01, 2022.
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