Broderick Brian C Acquires Shares of 3,180 The Charles Schwab Corporation $SCHW

Key Points

• Broderick Brian C acquired 3,180 shares of The Charles Schwab Corporation for approximately $290,000, highlighting significant institutional investment interest in the financial services provider.
• Insider Paul V. Woolway sold 3,290 shares, while Chairman Walter W. Bettinger sold 173,876 shares, indicating a combined transaction value of over $17 million in a short time frame.
• Charles Schwab reported a 24.8% year-over-year revenue increase to $5.85 billion and authorized a stock buyback of $20 billion, reflecting confidence in its stock valuation.

Broderick Brian C bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,180 shares of the financial services provider's stock, valued at approximately $290,000.

Several other hedge funds have also bought and sold shares of SCHW. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab during the first quarter valued at about $25,000. Westside Investment Management Inc. lifted its position in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. RMG Wealth Management LLC acquired a new position in Charles Schwab during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its holdings in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after purchasing an additional 191 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab in the first quarter worth approximately $31,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. The trade was a 22.74% 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 three months. Insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Charles Schwab from $114.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Citigroup increased their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Finally, Piper Sandler lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.52.

Charles Schwab Stock Performance

Shares of SCHW opened at $93.94 on Wednesday. The Charles Schwab Corporation has a 1 year low of $64.26 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The stock's fifty day moving average price is $95.21 and its two-hundred day moving average price is $88.86. The firm has a market cap of $170.53 billion, a PE ratio of 25.25, a PEG ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is 29.03%.

About Charles Schwab

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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