Blair William & Co. IL Sells 111,138 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Blair William & Co. IL has reduced its stake in The Charles Schwab Corporation by 12.9%, selling 111,138 shares and now holding 752,699 shares valued at approximately $68.68 million.
• Insider transactions indicate significant sell-offs, with insiders collectively selling 267,128 shares worth $26.23 million last quarter, while insiders currently hold 6.30% of the company's stock.
• Charles Schwab recently initiated a $20 billion share repurchase program, signaling company leadership's belief that the stock is undervalued, alongside a declared dividend of $0.27 per share.

Blair William & Co. IL lowered its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 12.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 752,699 shares of the financial services provider's stock after selling 111,138 shares during the period. Blair William & Co. IL's holdings in Charles Schwab were worth $68,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SCHW. Pine Haven Investment Counsel Inc raised its stake in shares of Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock worth $3,813,000 after purchasing an additional 110 shares during the last quarter. Traveka Wealth LLC lifted its stake in Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 117 shares during the period. Bank of Stockton boosted its holdings in shares of Charles Schwab by 1.2% in the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider's stock valued at $967,000 after acquiring an additional 123 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after acquiring an additional 129 shares during the period. Finally, HM Payson & Co. raised its holdings in shares of Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the sale, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last quarter. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Piper Sandler upped their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Zacks Research lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Bank of America boosted their price target on Charles Schwab from $84.00 to $86.00 and gave the company an "underperform" rating in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Charles Schwab from $114.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Charles Schwab in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.57.

Charles Schwab Stock Performance

SCHW opened at $93.82 on Thursday. The firm's fifty day simple moving average is $95.11 and its two-hundred day simple moving average is $88.89. The Charles Schwab Corporation has a 52-week low of $64.97 and a 52-week high of $99.59. The company has a market cap of $170.30 billion, a price-to-earnings ratio of 25.22, a PEG 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.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share 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 19.30%. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the company posted $0.73 EPS. Charles Schwab's quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's payout ratio is presently 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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