Bellwether Advisors LLC Has $2.20 Million Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• Bellwether Advisors LLC increased its stake in The Charles Schwab Corporation by 489.6% in Q1, acquiring 23,352 shares to bring its total holdings to 28,122 shares, valued at about $2.2 million.
• Insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock, reducing his ownership by 8.40%, while another insider, Nigel J. Murtagh, sold 20,872 shares, leading to a 26.13% decrease in his position.
• Charles Schwab's Board of Directors approved a $20.00 billion stock repurchase plan, allowing the company to buy back up to 11.6% of its outstanding shares, indicating management's belief that the stock is undervalued.

Bellwether Advisors LLC boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 489.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,122 shares of the financial services provider's stock after acquiring an additional 23,352 shares during the period. Bellwether Advisors LLC's holdings in Charles Schwab were worth $2,201,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC raised its holdings in shares of Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after buying an additional 8,584,173 shares during the last quarter. FMR LLC raised its holdings in shares of Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after buying an additional 3,974,940 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after buying an additional 3,684,640 shares during the last quarter. PointState Capital LP bought a new stake in Charles Schwab during the fourth quarter worth approximately $237,280,000. Finally, Farallon Capital Management LLC bought a new stake in Charles Schwab during the fourth quarter worth approximately $234,538,000. Institutional investors own 84.38% of the company's stock.

Analyst Ratings Changes

SCHW has been the topic of several recent analyst reports. Cowen reissued a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. UBS Group boosted their target price on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Piper Sandler lifted their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Bank of America lifted their price objective on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.35.

Charles Schwab Stock Down 0.4%

Shares of NYSE:SCHW traded down $0.42 during midday trading on Thursday, reaching $98.15. 3,434,314 shares of the company were exchanged, compared to its average volume of 10,171,396. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a fifty-two week low of $61.15 and a fifty-two week high of $99.59. The stock has a fifty day simple moving average of $90.91 and a two-hundred day simple moving average of $83.33. The firm has a market cap of $178.33 billion, a PE ratio of 26.42, a P/E/G ratio of 0.94 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the firm posted $0.73 EPS. The company's quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, August 8th. Charles Schwab's payout ratio is 29.03%.

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

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the sale, the director owned 105,654 shares of the company's stock, valued at $9,303,891.24. The trade was a 7.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 20,872 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the sale, the insider directly owned 58,999 shares of the company's stock, valued at $5,310,499.99. This represents a 26.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,754 shares of company stock worth $9,480,253 in the last ninety days. Insiders own 6.30% of the company's stock.

Charles Schwab Company 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.