Baldwin Wealth Partners LLC MA Has $8.99 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Baldwin Wealth Partners LLC MA has reduced its holdings in The Charles Schwab Corporation by 3.3%, owning 98,509 shares worth approximately $8.99 million as of the latest SEC filing.
• Insider Nigel J. Murtagh sold 24,096 shares in July, representing a 29% decrease in his ownership, while other insiders collectively sold 267,128 shares valued at over $26.2 million in the last quarter.
• Charles Schwab's board has authorized a $20 billion stock repurchase plan, indicating management's belief that the stock is undervalued, while the company has also declared a quarterly dividend of $0.27 per share.

Baldwin Wealth Partners LLC MA trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,509 shares of the financial services provider's stock after selling 3,359 shares during the quarter. Baldwin Wealth Partners LLC MA's holdings in Charles Schwab were worth $8,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bain Capital Public Equity Management II LLC acquired a new position in Charles Schwab during the 1st quarter worth approximately $79,605,000. Independent Advisor Alliance raised its stake in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock worth $3,061,000 after buying an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock worth $92,493,000 after buying an additional 68,858 shares during the period. PFG Investments LLC raised its stake in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider's stock worth $543,000 after buying an additional 550 shares during the period. Finally, United Services Automobile Association raised its stake in Charles Schwab by 14.1% during the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider's stock worth $3,074,000 after buying an additional 4,869 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 24,096 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the transaction, the insider directly owned 58,999 shares of the company's stock, valued at $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 over the last quarter. Corporate insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SCHW. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Charles Schwab in a research note on Wednesday. Citigroup boosted their price objective on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Morgan Stanley decreased their price objective on Charles Schwab to $130.00 and set an "overweight" rating for the company in a report on Wednesday, October 1st. Finally, JMP Securities boosted their price objective on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.57.

Charles Schwab Stock Performance

SCHW stock opened at $94.01 on Friday. The firm has a market cap of $170.65 billion, a PE ratio of 25.27, a P/E/G ratio of 0.91 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $95.04 and a 200-day moving average of $88.99. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab's quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab's dividend payout ratio is currently 29.03%.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.

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