We Expect Charles Schwab to Continue Setting Records, but We Believe Shares Are Fairly Valued
As our thesis for Charles Schwab is playing out, the company broke multiple records in the recent third quarter, and we expect the company to continue booking new highs in client assets, revenue, and earnings. That said, while the stock was one of our best ideas several years ago, we currently believe shares have already priced in future earnings growth, and we assess shares as being fairly valued. We don’t anticipate making any material change to our $31 fair value estimate for wide-moat Charle...Charles Schwab is a savings and loan holding company. The company is engaged, through its subsidiaries, in wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company provides financial services to individuals and institutional clients in two segments: Investor Services, which provides retail brokerage and banking services to individual investors and retirement plan services, as well as other corporate brokerage services, to businesses and their employees; and Advisor Services, which provides custodial, trading, banking and support services, as well as retirement business services to independent registered investment advisors and recordkeepers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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