Choreo LLC Cuts Position in The Charles Schwab Corporation (NYSE:SCHW)

Choreo LLC lowered its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 17.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,522 shares of the financial services provider's stock after selling 21,936 shares during the quarter. Choreo LLC's holdings in Charles Schwab were worth $7,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cary Street Partners Financial LLC bought a new stake in Charles Schwab in the 4th quarter valued at $1,455,000. Graham Capital Management L.P. boosted its position in Charles Schwab by 248.3% in the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after buying an additional 80,112 shares during the period. World Investment Advisors boosted its position in Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock valued at $12,760,000 after buying an additional 11,505 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Charles Schwab by 17.2% in the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock worth $15,631,000 after purchasing an additional 29,255 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Charles Schwab by 14.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 146,392 shares of the financial services provider's stock worth $11,460,000 after purchasing an additional 18,280 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total value of $299,225.50. Following the sale, the insider directly owned 35,864 shares of the company's stock, valued at approximately $3,261,830.80. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders sold 116,313 shares of company stock worth $10,264,091 over the last three months. Company insiders own 6.30% of the company's stock.

Charles Schwab Stock Performance

SCHW traded up $0.60 during trading on Friday, hitting $97.10. The stock had a trading volume of 6,401,954 shares, compared to its average volume of 10,255,355. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a twelve month low of $61.15 and a twelve month high of $98.28. The firm has a market capitalization of $176.42 billion, a P/E ratio of 26.08, a PEG ratio of 0.91 and a beta of 0.93. The company's 50-day moving average price is $90.17 and its 200 day moving average price is $82.64.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued 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. The firm had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The firm's revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has approved a stock buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.11%. Charles Schwab's dividend payout ratio is currently 29.03%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of analyst reports. William Blair cut shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Barclays upped their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Cowen reiterated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Citigroup increased their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Truist Financial increased their price objective on shares of Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.65.

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.