Callan Family Office LLC Purchases 151,869 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Callan Family Office LLC increased its investment in The Charles Schwab Corporation by 224.3% in Q2, acquiring an additional 151,869 shares, bringing its total to 219,563 shares valued at approximately $20 million.
• Charles Schwab reported a strong quarterly performance with $1.14 EPS, exceeding analysts' estimates, and a revenue increase of 24.8% year-over-year to $5.85 billion.
• The company announced a $20 billion share buyback plan indicating confidence in its stock valuation, alongside a recently declared quarterly dividend of $0.27 per share.

Callan Family Office LLC boosted its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 224.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,563 shares of the financial services provider's stock after acquiring an additional 151,869 shares during the period. Charles Schwab accounts for 0.6% of Callan Family Office LLC's portfolio, making the stock its 23rd largest position. Callan Family Office LLC's holdings in Charles Schwab were worth $20,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RMG Wealth Management LLC bought a new position in Charles Schwab during the second quarter worth about $27,000. Westside Investment Management Inc. boosted its holdings in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after buying an additional 191 shares during the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab during the first quarter worth about $31,000. Finally, Activest Wealth Management boosted its holdings in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after buying an additional 399 shares during the last quarter. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Up 0.2%

Shares of Charles Schwab stock opened at $94.01 on Friday. The business's 50 day simple moving average is $95.04 and its 200 day simple moving average is $88.99. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. 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 debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results 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. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the firm earned $0.73 EPS. Charles Schwab's revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. BMO Capital Markets assumed coverage on Charles Schwab in a research report on Friday, October 3rd. They set an "outperform" rating and a $110.00 price target on the stock. Barclays reaffirmed an "overweight" rating and set a $114.00 price target on shares of Charles Schwab in a research report on Wednesday. Truist Financial set a $112.00 price target on Charles Schwab in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price target 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, Citigroup raised their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average price target of $100.57.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the firm'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 in the company, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction that occurred 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. Over the last 90 days, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by insiders.

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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