Clarkston Capital Partners LLC Has $71.65 Million Stake in The Charles Schwab Corporation $SCHW

Key Points

• Clarkston Capital Partners LLC reduced its stake in The Charles Schwab Corporation by 10%, now owning approximately $71.65 million worth of shares.
• Insider transactions have shown significant selling, with one executive selling over 24,000 shares at a total value of approximately $2.36 million, representing a 29% ownership decrease.
• Charles Schwab's recent earnings report surpassed estimates, showing a quarterly revenue increase of 24.8% year-over-year and a net margin of 33.68%.

Clarkston Capital Partners LLC trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 915,334 shares of the financial services provider's stock after selling 101,761 shares during the period. Charles Schwab accounts for 1.4% of Clarkston Capital Partners LLC's holdings, making the stock its 24th largest position. Clarkston Capital Partners LLC owned 0.05% of Charles Schwab worth $71,652,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab in the first quarter worth $25,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after buying an additional 150 shares during the period. Stone House Investment Management LLC acquired a new position in Charles Schwab in the first quarter valued at $31,000. WFA Asset Management Corp acquired a new position in Charles Schwab in the first quarter valued at $33,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after buying an additional 220 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider directly owned 58,999 shares of the company's stock, valued at $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,850 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the transaction, the insider directly owned 15,219 shares of the company's stock, valued at $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,340 shares of company stock valued at $24,250,303. Company insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SCHW shares. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and upped their target price for the stock from $65.00 to $82.00 in a report on Monday, June 9th. TD Securities upped their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and an average target price of $99.60.

Charles Schwab Trading Down 0.3%

NYSE:SCHW opened at $95.4380 on Thursday. The Charles Schwab Corporation has a one year low of $61.16 and a one 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 company's 50-day simple moving average is $93.54 and its 200 day simple moving average is $85.16. The firm has a market capitalization of $173.24 billion, a P/E ratio of 25.66, a PEG ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $5.64 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The firm's quarterly revenue was up 24.8% on a year-over-year basis. As a group, analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab's dividend payout ratio is 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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