Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 106.89MM shares of Schwab Charles Corp (SCHW). This represents 5.9% of the company.
In their previous filing dated February 1, 2022 they reported 105.44MM shares and 5.80% of the company, an increase in shares of 1.37% and an increase in total ownership of 0.10% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 24.32% Upside
As of February 7, 2023, the average one-year price target for Schwab Charles is $99.28. The forecasts range from a low of $83.83 to a high of $128.10. The average price target represents an increase of 24.32% from its latest reported closing price of $79.86.
The projected annual revenue for Schwab Charles is $23,757MM, an increase of 14.43%. The projected annual EPS is $4.95, an increase of 40.67%.
Fund Sentiment
There are 2725 funds or institutions reporting positions in Schwab Charles. This is an increase of 73 owner(s) or 2.75%.
Average portfolio weight of all funds dedicated to US:SCHW is 0.7536%, an increase of 14.4638%. Total shares owned by institutions increased in the last three months by 2.42% to 1,619,415K shares.
What are large shareholders doing?
Dodge & Cox holds 80,511,141 shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 79,042,463 shares, representing an increase of 1.82%. The firm increased its portfolio allocation in SCHW by 26.84% over the last quarter.
Wellington Management Group Llp holds 75,415,805 shares representing 4.04% ownership of the company. In it's prior filing, the firm reported owning 75,689,429 shares, representing a decrease of 0.36%. The firm decreased its portfolio allocation in SCHW by 83.33% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 53,181,100 shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 51,103,600 shares, representing an increase of 3.91%. The firm increased its portfolio allocation in SCHW by 27.47% over the last quarter.
Price T Rowe Associates holds 50,820,314 shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 63,298,460 shares, representing a decrease of 24.55%. The firm decreased its portfolio allocation in SCHW by 47.14% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 46,102,010 shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 45,488,250 shares, representing an increase of 1.33%. The firm increased its portfolio allocation in SCHW by 20.18% over the last quarter.
Schwab Charles Declares $0.25 Dividend
Schwab Charles said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of February 9, 2023 will receive the payment on February 24, 2023. Previously, the company paid $0.22 per share.
At the current share price of $79.86 / share, the stock's dividend yield is 1.25%. Looking back five years and taking a sample every week, the average dividend yield has been 1.30%, the lowest has been 0.67%, and the highest has been 2.53%. The standard deviation of yields is 0.41 (n=237).
The current dividend yield is 0.13 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.39%, demonstrating that it has increased its dividend over time.
Charles Schwab Background Information
(This description is provided by the company.)
Charles Schwab believes in the power of investing to help individuals create a better tomorrow. The company has a history of challenging the status quo in its industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing its clients' goals with passion and integrity.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
